Anormed

Anormed board recommends shareholders reject hostile Genzyme offer

Published in Physician Law Weekly, October 4th, 2006

Anormed, Inc., (AOM) announced that its board of directors, based on the recommendation of its Strategic Initiatives Committee, unanimously recommends that Anormed shareholders reject and not tender their shares to the unsolicited offer by Genzyme Corp. (GENZ) to acquire all of the outstanding shares of Anormed for $8.55 per share in cash.

After careful consideration, including consultation with its financial and legal advisors, Anormed's board of directors concluded that the Genzyme Offer does not reflect the fundamental value of Anormed. The Genzyme offer, if successful, will deprive Anormed shareholders of significant upside potential in their investment.

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Source: Physician Law Weekly (2006-10-04)

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