Genzyme Active On Continued Buyout Rumors (GENZ)

Posted in pre-market 
July 26th, 2010

Genzyme Corp. (NASDAQ: GENZ) has made early gains as more rumors about the company and its potential buyers continues to surface. Shortly after the market closed friday, Sanofi-Aventis (NYSE: SNY) approached the biotech company with the explicit intention of considering purchase. GENZ is up 5.57% to $66 at 8:04 AM EDT. At that time the stock had traded 114 thousand shares volume with an average volume of 3.8 million.

Sanofi-Aventis is not the only Biotech company which has been speculated to have interest in Genzyme. GlaxoSmithKline (NYSE: GSK) and Johnson & Johnson (NYSE: JNJ) are also considered potential suitors.

-Michael B. Sauter

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