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...But Termeer persisted, emboldened by what Dr Rosenblatt describes as a “journey of enlightenment”....
...Much of the modern industry is due to the pioneering work of Henri Termeer, who died last year but left a powerful legacy with his company Genzyme, from which many of his protégés went on to create or join...
...Even Mr Termeer admits that the number of really effective orphan drugs, is still very limited....
...It was at the World Economic Forum in Davos this year that Mr Termeer said that he reached agreement, shaking hands with Mr Viehbacher after a lengthy walk and talk....
...Investors may well see an increase of $2-$3 a share in the offer price – a small but face-saving concession for Mr Termeer....
...Termeer stressed in Friday’s interview that price was his only reason for resisting Sanofi’s takeover attempt, which he said had “no chance” of success with its current $69 per share bid....
...Termeer had done his utmost to raise the bid price, adds Bloomberg, even asking Genzyme’s bankers at Goldman Sachs and Credit Suisse to see if the company could fetch more from another bidder, according...
...Mr Termeer has expressed deep regret over the saga....
...But Mr Termeer stressed the packages were in line with comparable companies, and argued that the directors were fiercely independent....
...Sanofi chief Chris Viehbacher said in a letter to Genzyme CEO Henri Termeer on Monday that the board should not hamper shareholders’ choice if it was not prepared to enter direct talks with Sanofi....
...Mr Termeer, who has run the company for almost three decades, may be reluctant to sell at any price....
...The suggestion was made in a September meeting with Henri Termeer, chief executive of the US biotechnology group, with Mr Viehbacher, adding that he could not get to the upper end of that range based on...
...Mr Termeer also suggested that Sanofi had indicated that it was willing to pay more for Genzyme but that “you are unwilling to ‘bid against yourself”....
...Mr Termeer admitted that manufacturing still presented a major risk to its forecasts....
...Chris Viehbacher, Sanofi’s chief executive, and Henri Termeer, chief executive of Genzyme, whose companies have been locked in a high-profile takeover tussle, were ushered from room to room by advisers to...
...Shareholders may prefer to sell out now rather than wait for Mr Termeer to persuade the market that his touted inherent value is higher than Sanofi’s offer. They have been patient for a year....
...Henri Termeer, Genzyme’s chief executive, has indicated that he is not opposed to a sale, but only willing to enter detailed discussions at a higher price, which he has refused to name....
...Chris Viehbacher, chief executive of Sanofi-Aventis, quickly dispensed with pleasantries in his letter to Henri Termeer, his counterpart at Genzyme, this week in which he went public with the French pharmaceuticals...
...Genzyme’s board has not asked bankers to reach out to other bidders “but that’s quite obviously a logical situation to develop,” said CEO Henri Termeer....
...Henri Termeer, chairman and CEO of the US biotech, reiterated the board’s rejection in late July of Sanofi’s $18.5bn cash offer....
...Amid Genzyme’s reluctance to enter private talks, Sanofi issued a letter from CEO Chris Viehbacher to Henri Termeer, Genzyme chairman and CEO, saying it was considering all options to complete the transaction...
...Mr Viehbacher said he had been rebuffed most recently at a meeting between Mr Viehbacher and Henri Termeer, Genzyme’s president, late last month....
...Chris Viehbacher, Sanofi chief executive, wrote to Henri Termeer, Genzyme chairman and chief executive, saying he was disappointed Genzyme had rejected Sanofi’s initial approach “without discussing its substance...
...In deal news,Genzyme, the pharmaceutical group that is the target of a bid by Sanofi-Aventis , rose 0.4 per cent to $70.38 after Henri Termeer, chief executive, said he was willing to sell the company –...
...Henri Termeer, chief executive of Genzyme, on Wednesday said: “This agreement provides a pragmatic and constructive solution that allows us to focus on continuing to strengthen and build the company to create...
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