Top 20 local business stories of 2010
4. Sanofi-Aventis's pursuit of Genzyme
Chief executive Henri Termeer pulled his biotechnology company through contamination problems at its Allston plant and a hostile takeover bid from activist investor Carl Icahn. Just as the waters were calming for the Cambridge company, French drug maker Sanofi-Aventis made an $18.5 million offer for Genzyme. The two companies were locked in negotiations all summer, until Genzyme rejected a $18.5 billion ($69 a share) takeover bid in late August. Sanofi refused to raise its offer and launched a hostile takeover bid.