Drug maker of French Sanofi-Aventis has launched for a hostile bid for Genzyme on Monday. The hostile bid for Genzyme by Sanofi-Aventis for one share is about $69 per share. The offer for the deal by Sanofi -Aventis is for about $18.5 billion direct to the share holders. The negotiation by sanofi-Aventis however was being refused by the Genzyme management after the offer. The Sanofi-Aventis has been in touch with its investors as Sanofi-Aventis is frustrated by the Genzyme.

The unsolicited offer was full in cash will come to expire during December 10 said Sanofi-Aventis. During the conference Sanofi-Aventis Executive Chris Viehbacher explained how Sanofi remained a patient. Chris even spoke about the offger which will be successful at the end during the conference with the reporters. The Sanofi drug portfolio would be boosted by buying Genzyme as the sale of older medicine has reduced.

The preference between the two firms was a friendly talks which would lead to a tender offer because of Genzyme refusal. The deal seems to be logical say Industry experts as Sanofi may pay more for the deal with Genzyme. The talks between Genzyme and Sanofi Aventis is unproductive said CEO of Genzyme Henri Termeer during September 20.