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Sanofi-Aventis to Acquire Genzyme for $20.1 Billion
11:59 PM MST | February 15, 2011 | Deepti Ramesh
Sanofi-Aventis says it has entered into a definitive agreement with biotechnology company Genzyme (Cambridge, MA), under which Sanofi-Aventis will acquire Genzyme for $74/share in cash, or about $20.1 billion. The transaction, which has been approved by the boards of directors of both companies, is expected to close early in the second quarter of 2011. The combination will enhance Sanofi-Aventis’ growth strategy by expanding its footprint in biotechnology, Sanofi-Aventis says. Genzyme, since 1981, has grown from a small start-up to a diversified enterprise...
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