Genzyme Board Unanimously Rejects Sanofi-Aventis Tender Offer

11-Oct-2010 - USA

Genzyme Corp. announced that its board of directors has voted unanimously to reject the unsolicited $69.00 per share tender offer from Sanofi-Aventis, and the board recommends that Genzyme shareholders not tender their shares to Sanofi-Aventis pursuant to the offer.

Genzyme’s board and management are initiating a program to communicate with shareholders regarding the intrinsic value of the company. In the near future, Genzyme will hold an Analyst and Investor meeting in New York to provide a financial outlook and other pertinent information. The event will be web cast on the investor events section of www.genzyme.com. Details of the meeting will be announced separately. On October 21, following the release of its third-quarter earnings results, the company will begin a series of meetings with shareholders.

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