Date Closed

November 7, 2006

Lead Office

Vancouver

Value

584.00 Million USD

On November 7, 2006, AnorMED Inc., a leading Vancouver, Canada-based biotechnology firm, was acquired by Genzyme Corporation for US$584 million. The transaction was commenced initially as the first ever hostile takeover bid in the history of the North American biotechnology industry, and took the form of an all cash tender offer in Canada and the United States.  After an intervening bid by Millennium Pharmaceuticals, Inc., another leading Massachusetts-based biotechnology company, Genzyme topped the friendly Millennium bid and entered into a co-operative supported transaction with AnorMED.

McCarthy Tétrault advised AnorMED with a team that was led by Tim McCafferty, and included Jeremy Feist, Brent Kerr, Joyce Lee, Sven Milelli, and Cheryl Slusarchuk.