REBIF - Big Drug Makers Take a Pass on Serono: WALL STREET JOURNAL: "Swiss biotechnology titan Serono SA might struggle to find a buyer, after several big drug makers that had held preliminary talks with the company failed to bid by last Friday's auction deadline, according to people familiar with the matter.
It remains possible that a surprise contender entered the fray at the last minute. But the lack of interest from many of the world's biggest drug companies means Serono, a maker of fertility treatments and a popular multiple-sclerosis drug, might be forced to lower its asking price. The company had been seeking as much as $15 billion in cash. The company also could look outside the auction process for a buyer or merger partner.
The Geneva-based company had held talks in recent months with Novartis AG, of Switzerland; GlaxoSmithKline PLC, of London; New York-based Pfizer Inc. and others.
The companies were given a deadline of last Friday to submit their final bids for an acquisition of Serono, which was put up for sale last year by the Bertarelli family, holder of 62% of the company's shares. Family scion Ernesto Bertarelli is Serono's chief executive."