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Millennium to buy AnorMed; outbid

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  • Withdrawn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
    • Intra-Biotech Deal
    • Payment Includes Cash
    • Full Acquisition

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