According to people familiar with the situation,

sanofi-aventis is contemplating raising its takeover bid for Genzyme, The Wall Street Journal reported. The French drugmaker has previously been hesitant to raise its offer for Genzyme, but is said to be considering the move in order to spur takeover discussions.

Sanofi-aventis spokesman Jean-Marc Podvin noted that the company "would like to enter into a dialogue" with Genzyme, but he declined to comment on the report of an increased offer price. "We have one offer at $69. No other offer has been made," Podvin said.

The sources note that the French drugmaker recently asked Genzyme to declare a price at which due diligence can begin, but Genzyme has so far declined, saying that it would not benefit by disclosing a figure. Sanofi-aventis has said that its preference is to keep takeover discussions friendly, but people familiar with the situation have previously reported that the company has not ruled out a hostile takeover.

Last month, Genzyme CEO Henri Termeer said that if the company did enter into negotiations with sanofi-aventis, it would likely open up the sales process to others, the Wall Street Journal reports. To date, no other interested parties have submitted a takeover bid