Biotech play

Sanofi-Aventis SA may have to pay at least $80 a share, or $21.3 billion, to acquire genetic-disease drug maker Genzyme Corp. as activist directors drive up the price, inves tors in the US biotechno logy company say. Sano fi’s CEO has support to offer as much as $70 a share, or about $18.7 bil lion. Billionaire Carl Icahn has about a 5 per cent stake in Genzyme.

Slow China

China’s manufacturing grew at the slowest pace in 17 months in July as the government clamped down on property specu lation and investment in energy-intensive and pol luting factories.

E-book look

Bertelsmann’s Random House, the world’s big gest book publisher, ex pects electronic books to contribute more than 10 percent of its US revenue next year.

Natural ga$

Hedge funds increased their bets that natural gas prices would rise for the first time in six weeks after hotter-than-normal air-conditioning demand. Natural gas climbed every day last week, the longest streak since No vember. Hedge funds and other large speculators increased bullish bets by 14 percent the week ended July 27, according to industry data.