Bioenvision and Genzyme Corporation File Petition in Delaware Court
Published: Oct 10, 2007
NEW YORK & CAMBRIDGE, Mass.--(BUSINESS WIRE)--Bioenvision, Inc. (NASDAQ: BIVN) and Genzyme Corporation (Nasdaq: GENZ) announced today that they have jointly filed a petition with the Court of Chancery of the State of Delaware seeking relief in connection with a special meeting of the stockholders of Bioenvision held on October 5, 2007 regarding the approval of the Agreement and Plan of Merger, dated May 29, 2007, between Bioenvision and Genzyme Corporation, as amended by Amendment No. 1 thereto, dated August 8, 2007 (the "Merger Agreement"). The petition seeks that the Chancery Court permit Bioenvision to reconvene the special meeting of stockholders in late October and reopen the polls to ensure that all Bioenvision stockholders are afforded an opportunity to vote for or against the adoption of the Merger Agreement and for those votes to be properly counted. In addition, this relief would provide that appraisal rights relating to the Merger Agreement will be available to all Bioenvision stockholders prior to taking the vote in late October. The companies seek this relief to correct errors made in connection with the October 5th meeting that may otherwise disenfranchise a significant number of Bioenvision stockholders.