Report: Termeer's value hunt yields buyout interest

The Genzyme ($GENZ) headline today focuses on possible buyout interest from Takeda Pharmaceutical Industries. Is the Japanese drugmaker really interested in paying up to $20 billion for the Boston-based biotech company? Bloomberg's sources say yes; Wall Street Journal's say it's unlikely.

What these reports definitely show is that Genzyme has followed through on its promise to test the market. Claiming disgust with Sanofi-Aventis' ($SNY) $18.5 billion hostile bid, Genzyme chief Henri Termeer (photo) told the French drugmaker that he'd start scouting around for confirmation that his company is worth much more.

Now, as Bloomberg reports, folks close to the process have told The Mail on Sunday that Takeda, Pfizer ($PFE), GlaxoSmithKline ($GSK) and Eli Lilly ($LLY) have all considered potential bids for Genzyme. Whether those bids will actually materialize is another question altogether. And unless and until at least one higher bid comes through, Termeer's scouting won't prove much.

- read the Bloomberg story
- get more from Reuters
- check out the WSJ piece

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