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Sanofi-Aventis Prolongs Offer For Genzyme Until 1 April

From M&A Navigator (March 7, 2011)

French Sanofi-Aventis (EPA:SAN) said Monday it has decided to prolong its takeover offer for the outstanding stock of US biotechnology company Genzyme (NASDAQ:GENZ) until 1 April from 16 March.

Sanofi added it is now offering USD74 (EUR52.95) per share in cash, or a total of USD20.1bn for the US company, in addition to one contingent value right per share.

Sanofi further said it has secured above 1.1m shares, or 0.41% of Genzyme's outstanding stock on a fully-diluted base, as of 4 March.

Country: , USA

Sector: Biotechnology

Target: Genzyme Corporation

Buyer: Sanofi-Aventis SA

Deal size in USD: 20.1bn

Type: Corporate acquisition

Status: Bidding

Comment: Offer has been extended.

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Posted: March 2011