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Sanofi, Genzyme In New Deal Talks
Sanofi-Aventis is in talks with Genzyme about possibly using contingent value rights to boost its current offer for the biopharmaceutical company.
Sanofi-Aventisis in talks withGenzymeabout possibly using contingent value rights (CVRs) to boost its current offer for the biopharmaceutical company,The Wall Street Journalreports. Until now, Sanofi has bid $69 a share, or $18.5 billion, for Genzyme
Financial advisers for the companies are discussing the value of a CVR that would take the total Genzyme offer to around $80 per share, valuing the company at $20.7 billion. The CVR would be largely tied to the performance of a Genzyme drug used to treat leukemia,Campath.
Click here for the story fromThe Wall Street Journal.