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Feb 17, 2011

Dealtalk: A walk in the Alps put Genzyme deal on track

BOSTON/PHILADELPHIA (Reuters) – It took the rarefied air of the Swiss Alps to bring together the chief executives of Sanofi-Aventis (SASY.PA: Quote, Profile, Research, Stock Buzz) and Genzyme Corp (GENZ.O: Quote, Profile, Research, Stock Buzz) and pave the way for a $20.1 billion deal.

Genzyme Chief Executive Henri Termeer resisted Sanofi’s initial offer of $18.5 billion, or $69 a share for months. Advisers to the two companies spent countless hours discussing options for a deal. Termeer bumped into Sanofi CEO Chris Viehbacher at various industry events, but the two did not sit down by themselves.

Feb 16, 2011

A walk in the Alps put Genzyme deal on track

BOSTON/PHILADELPHIA, Feb 16 (Reuters) – It took the
rarefied air of the Swiss Alps to bring together the chief
executives of Sanofi-Aventis (SASY.PA: Quote, Profile, Research, Stock Buzz) and Genzyme Corp
(GENZ.O: Quote, Profile, Research, Stock Buzz) and pave the way for a $20.1 billion deal.

Genzyme Chief Executive Henri Termeer resisted Sanofi’s
initial offer of $18.5 billion, or $69 a share for months.
Advisers to the two companies spent countless hours discussing
options for a deal. Termeer bumped into Sanofi CEO Chris
Viehbacher at various industry events, but the two did not sit
down by themselves.

Feb 16, 2011

Banks may split $125mln in Sanofi-Genzyme M&A fees

LONDON/PHILADELPHIA, Feb 16 (Reuters) – Banks including
Goldman Sachs and JPMorgan stand to earn up to $125 million in
fees after Sanofi-Aventis SA (SASY.PA: Quote, Profile, Research, Stock Buzz) finally clinched a $20.1
billion-plus deal to buy Genzyme Corp (GENZ.O: Quote, Profile, Research, Stock Buzz).
[ID:nLDE71F046]

Sanofi’s banks may earn $50 million to $60 million for
their mergers and acquisitions (M&A) advice, while Genzyme’s
financial advisers could make $53 million to $65 million,
according to estimates by Freeman & Co, a consultancy.

Feb 16, 2011

Sanofi, Genzyme banks may split $125 million in M&A fees

LONDON/PHILADELPHIA (Reuters) – Banks including Goldman Sachs and JPMorgan stand to earn as much as $125 million in fees after Sanofi-Aventis SA finally clinched a $20.1 billion-plus deal to buy Genzyme Corp.

Sanofi’s banks may earn $50 to $60 million in fees for their mergers and acquisitions (M&A) advice, while Genzyme’s financial advisers could make $53 to $65 million, according to estimates from Freeman & Co, a consultancy.

Feb 16, 2011

Sanofi, Genzyme banks may split $125m in M&A fees

LONDON/PHILADELPHIA, Feb 16 (Reuters) – Banks including
Goldman Sachs and JPMorgan stand to earn as much as $125 million
in fees after Sanofi-Aventis SA (SASY.PA: Quote, Profile, Research, Stock Buzz) finally clinched a
$20.1 billion-plus deal to buy Genzyme Corp (GENZ.O: Quote, Profile, Research, Stock Buzz).
[ID:nLDE71F046]

Sanofi’s banks may earn $50 to $60 million in fees for their
mergers and acquisitions (M&A) advice, while Genzyme’s financial
advisers could make $53 to $65 million, according to estimates
from Freeman & Co, a consultancy.

Feb 15, 2011

Sanofi to buy Genzyme for about $19 billion: sources

BOSTON/PHILADELPHIA (Reuters) – Sanofi-Aventis SA (SASY.PA: Quote, Profile, Research, Stock Buzz) has reached an agreement in principle to buy Genzyme Corp (GENZ.O: Quote, Profile, Research, Stock Buzz) for about $19 billion in cash plus future payments based on the performance of an experimental Genzyme drug, according to two sources with knowledge of the talks.

Under the agreement, Genzyme investors will receive $74 per share in cash plus a contingent value right, or CVR, whose value will depend on Genzyme’s experimental multiple sclerosis drug Lemtrada, the sources said on Tuesday.

Feb 15, 2011

Sanofi to buy Genzyme for about $19 bln-sources

BOSTON/PHILADELPHIA, Feb 15 (Reuters) – Sanofi-Aventis SA
(SASY.PA: Quote, Profile, Research, Stock Buzz) has reached an agreement in principle to buy Genzyme
Corp (GENZ.O: Quote, Profile, Research, Stock Buzz) for about $19 billion in cash plus future
payments based on the performance of an experimental Genzyme
drug, according to two sources with knowledge of the talks.

Under the agreement, Genzyme investors will receive $74
per share in cash plus a contingent value right, or CVR, whose
value will depend on Genzyme’s experimental multiple sclerosis
drug Lemtrada, the sources said on Tuesday.

Feb 14, 2011

U.S. luxury sector getting ready for more deals

NEW YORK/PHILADELPHIA (Reuters) – Wall Street bankers, the ultra wealthy and even upper middle class shoppers are once again snapping up diamond rings, $10,000 handbags and designer gowns, priming the U.S. luxury sector for more deals.

Merger mania has returned to industries such as pharmaceuticals and even stock exchange operators.

Feb 9, 2011

Sanofi says still reviewing Genzyme’s books

PARIS/PHILADELPHIA (Reuters) – France’s Sanofi-Aventis (SASY.PA: Quote, Profile, Research, Stock Buzz) said it was still conducting due diligence on takeover target Genzyme (GENZ.O: Quote, Profile, Research, Stock Buzz) and may extend a tender offer for the company a third time, disappointing some investors who thought a deal of more than $19 billion could be sealed by Wednesday.

Sanofi also predicted 5-10 percent lower earnings in 2011, underscoring its need to find new sources of revenue growth as top-selling drugs lose patent protection in the coming years.

Feb 7, 2011

Sanofi, Genzyme talks continue into week: sources

BOSTON/PHILADELPHIA (Reuters) – Sanofi-Aventis SA plans to continue discussions this week with takeover target Genzyme Corp, aiming to finalize a deal worth more than $19 billion in the next few days, sources familiar with the situation said on Sunday.

The boards of both companies were scheduled to hold separate meetings on Sunday to discuss the status of a potential deal, but no final decision was likely to be made, said the sources, who declined to be named because the talks were not public.