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Millennium to buy AnorMed; outbid
05 Jan 2007
Executive Summary
About a month after rejecting a $380mm unsolicited bid to be acquired by Genzyme, AnorMed (therapeutics for cancer, blood disorders, and HIV) was offered $515mm by Millennium Pharmaceuticals. Under the Genzyme deal, shareholders would have received $8.55 apiece (a 54% premium to the then-market average); the Millennium deal would have paid out $12 for each share (a 21% premium based on the current market average).
Deal Industry
- Biotechnology
- Pharmaceuticals
Deal Status
- Withdrawn
Deal Type
-
Acquisition
- Full Acquisition
- Intra-Biotech Deal
- Payment Includes Cash
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Millennium to buy AnorMed; outbid
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