Like an army besieging the castle keep, Sanofi-Aventis stands waiting...waiting...hoping to crack its quarry's defenses. The drugmaker has asked yet again to extend its offer for Czech generics firm Zentiva. The current offer expires Friday.
But barring a sweetened offer, it's tough to see just how Sanofi might prevail. Earlier this month, Zentiva repeated its contempt for the 1,050 crown-a-share bid, saying it undervalues the company. And as BNet notes, Sanofi seems to need Zentiva more than Zentiva needs Sanofi. The bigger company has its share of the troubles plaguing pharma, while Zentiva is on a growth curve.
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