Egoiste

Henri A. Termeer, the Genzyme CEO, has overseen Genzyme through their manufacturing debacle. In Sanofi's letter it was revealed that when Sanofi called Mr. Termeer to offer a buyout, Mr. Termeer said that Genzyme was not interested without even asking a price.

I understand the rejection of the $69 offer as it does seem a little low. But how does a CEO who oversaw the destruction of so much shareholder value not even listen to an offer because selling out would likely hurt is ego? Who does he serve, shareholders or his ego?

4 comments:

Anonymous said...

Where do you see the buyout price going to?

Tsachy Mishal said...

$75, maybe a couple of bucks higher.

Anonymous said...

There is a chance that Genzyme will succeed in driving Sanofi away. But Termer, although he may be an egotist, is planning to retire soon anyway.

Tsachy Mishal said...

But why not ask how much they are willing to pay? What if Sanofi had wanted to pay $90? What service is he doing for shareholder not even finding out?

I don't think he gives a damn about shareholders. He probably thinks its his company and he doesnt want to sell to no stinkin Frenchies.