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Sanofi-aventis acquires Genzyme Corporation
6 April 2011: Sanofi-aventis has concluded its over $20-billion (approx Rs 90,000 crore) acquisition of Genzyme Corporation.
The exchange offer and withdrawal rights expired on 1 April 2011 and 224.53 million shares of US based Genzyme were validly tendered and not withdrawn, marking around 84.6 per cent of Genzyme’s outstanding shares.
All the shares that were validly tendered and not validly withdrawn have been accepted for purchase. The payment will be made at the offer price of $74 in cash and one contingent value right or CVR per share.
Source: Hindu Business Line