GENZ's Plan B financing

Whether or not investors wanted to purchase Genzyme Corp.'s convertible note offering, their machinations in the stock market led to its being canceled.

The Cambridge, Mass., company filed for the offering on June 14, but said last week that it had decided instead to use bank credit to finance the $250 million purchase of surgical products maker Deknatel Snowden Pencer Inc. due to the decline in GENZ's stock price...