Hot Stock Merger Acquisition of the Day (GENZ, SNY, PAR, HPQ, DELL)

Genzyme Corporation (NASDAQ:GENZ) share are trading lower by 0.06% to $69.87 after the company rejected officially rejected a buyout offer made by Sanofi-Aventis SA (ADR) (NYSE:SNY), stating that the French drug giant's proposal is undervaluing the biotechnology company’s actual value significantly.

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Earlier this weekend, Sanofi-Aventis SA (ADR) (NYSE:SNY) had publicly disclosed its offer to buy Genzyme for $69 a share in cash. The deal is valued at about $18.5 billion, representing a premium of about 2% over its Friday’s closing price of $67.62.

The two firms have been in talks since July.

“The Genzyme board is not prepared to engage in merger negotiations with Sanofi based upon an opportunistic proposal with an unrealistic starting price that dramatically undervalues our company," Chief Executive Henri Termeer said in a letter to Sanofi-Aventis.

The offer by Sanofi "provides no new information and no improvement in price, and therefore fails to establish a basis for engagement by the Genzyme board," Termeer said in the letter.

Genzyme Corporation (Genzyme) is a biotechnology company. The Company’s product and service portfolio is focused on rare genetic disease disorders, renal diseases, orthopaedics, cancer, transplant and immune disease.

3PAR Inc. (NYSE:PAR) shares are down 0.60% to $31.61 after the company said that it has accepted Hewlett-Packard Company (NYSE:HPQ)’s latest bid of $30 a share offer.

Earlier there were consistent fight between Hewlett-Packard and Dell Inc. (NASDAQ:DELL) for acquiring 3PAR Inc. Firstly on Aug 16, Dell announced its offer at $18, about 100% premium over previous day closing price of 3PAR. In response to this Hewlett-Packard made cross offer of $24, following this Dell revised its offer to $24.30 and 3PAR accepted the offer.

Then within less than a day, Hewlett-Packard further upped its offer price to $27 and on the next day before the opening bell Dell matched its offer of $27 and that had been accepted by 3PAR Inc.

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But fight continued and Hewlett-Packard came out with more superior offer of $30 a share and that has been accepted by 3PAR Inc. this weekend.

Shares of 3PAR Inc are still trading above the accepted price. Does that mean there is more to come from Dell.

Analysts are skeptical about the already made high price offer considering the balance sheet size and the past operating record of 3PAR.

So stay tune for any further update, we are having close watch on this deal and will update you once if we get any updates.

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