SCO Capital Partners reiterated that it will vote against the company's proposed merger with Genzyme (GENZ) and will propose a new slate of directors. SCO Capital called Genzyme's $5.60-a-share bid "extremely inadequate" and said it was a " result of a poorly managed and ill-timed sales process." SCO Capital holds 7,209,331 shares (13.1%).

Seem to have a promising second installment of their original lukemia drug .. Big wigs seem to be jumping on this one.

From Barron's 7-16-07:

"SCO Capital Partners has sent a sixth letter to Bioenvision proposing a "new plan" for the company and its shareholders, who recently rejected a $5.60-a- share takeover by Genzyme (GENZ). SCO said that it wants to fill two of the seats on Bioenvision's board, stabilize and augment management, and terminate Genzyme's North American sublicense to produce clofarabine, an anti-cancer substance. Despite the rejection of the tender offer, Genzyme is still purchasing 22% of the company and is hoping for a full merger vote by the end of the year. SCO Capital Partners holds 7.21 million shares (13.4%)."

From Barron's 7-9-07:

"SCO Capital Partners said that Genzyme's (GENZ) "failed" tender offer for Bioenvision proves that the $5.60-a-share bid was too low. SCO Capital says that the offer is well below UBS Securities' price target of $13. Genzyme is extending the offer until July 10 and waiving a condition that it acquire at least 50% of Bioenvision's outstanding common. SCO Capital Partners has 7,209,331 shares (13.4%)."

take over target

Promising advances in treatment for childhood leukemia

biotech play

Monthly chart penant breakout

earnings