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Genzyme shares jump after Reuters scoop on Icahn move 01.07.2010 Shares in biotechnology company Genzyme climbed about 10 percent in the day-and-a-half after Reuters on Jan. 7 broke news that billionaire investor Carl Icahn may consider a proxy battle to force changes. The news completely overshadowed the company’s announcement earlier that day that it had entered into a collaborative agreement with another activist investor Ralph Whitworth. We not only broke the news about Icahn but quoted other investors saying they would give him a hearing and also got an interview with Genzyme’s CEO Henry Termeer who acknowledged the company was in a “bind” and could be “in play” if it didn’t improve its performance. Dow Jones and Bloomberg BusinessWeek were forced to pick up the Reuters story. MARKET IMPACT Shares in Genzyme climbed about 10 percent Reuters Firsts will need at least flash player 9 to give you the full experience. The latest Flash player can be downloaded here	firsts across any industry Commodities & Energy Energy, metals, agricultural and environmental markets FX & Money Markets Macroeconomics, monetary policy, FX and money markets Politics & Risk Politics and political risk Equity & Derivatives Companies, sectors, M&A and the financial industry Fixed Income Sovereign and corporate debt, credit, and ratings firsts by region Americas View stories from this region Europe / Middle East / Africa View stories from this region Asia View stories from this region Emerging Markets View stories from this region

Equity & Derivatives

Companies, sectors, M&A and the financial industry

Genzyme shares jump after Reuters scoop on Icahn move

01.07.2010

Shares in biotechnology company Genzyme climbed about 10 percent in the day-and-a-half after Reuters on Jan. 7 broke news that billionaire investor Carl Icahn may consider a proxy battle to force changes. The news completely overshadowed the company’s announcement earlier that day that it had entered into a collaborative agreement with another activist investor Ralph Whitworth. We not only broke the news about Icahn but quoted other investors saying they would give him a hearing and also got an interview with Genzyme’s CEO Henry Termeer who acknowledged the company was in a “bind” and could be “in play” if it didn’t improve its performance. Dow Jones and Bloomberg BusinessWeek were forced to pick up the Reuters story.