This morning, we wrote that Genzyme, which two months ago launched a controversial $350 million bid for Bioenvision, last week filed court papers indicating it wants to subpoena documents belonging to a Bioenvision shareholder. This shareholder, Adam Shay, created an outspoken web site urging other shareholders to reject the deal. Genzyme also wants to depose Shay, who manages a tax service in Wilmington, NC.

A Genzyme spokeswoman, Maria Cantor, insisted that issuing a third-party subpoena is a “routine” part of litigation and wouldn’t discuss “strategy or tactics.” When pressed, however, about Shay’s free-speech rights, she denies Genzyme is trying to shut down Shay’s web site. “It’s part of the issue, but it doesn’t involve stopping the blog. We’re not targeting the blog. The goal is not to shut down the blog. We’re not looking to squash the blog or make any claim against free speech.”

Now, though, Shay is giving it up: “After an extensive internal struggle and discussions with those that are important to me, I have decided to stop updating the blog and web site and responding to the site’s e-mails….Genzyme is known for hardball negotiating tactics when acquiring small biotech companies. However, I never realized the extent to which they are willing to go to quash dissension…

They are now trying to get a court deposition and subpoena served on myself. For what purpose I do not know. I am just an individual shareholder that has been blogging on publicly available information. In fact, I am surprised that they would request information from me given that I fall into the class of shareholders in the class action lawsuit in which they are one of the defendants…For all my supporters and fellow shareholders I say stand strong. Stand up for what you believe in, regardless of how tough the odds might seem. Success is always achievable when you truly believe in your cause and yourself.”

You can read Shay’s complete note here.