Sanofi-Genzyme Update – Tender Due Tomorrow!

April 6, 2011

As I’ve posted about before, Sanofi and Genzyme are merging. This deal has taken awhile, and is structured as a tender offer. It’s for $74 per share in cash, but also comes with a contingent value right that will be valuable if certain Genzyme drugs make it to market. Interesting deal.

Shareholders wishing to tender their shares need to do so before 6 p.m. tomorrow. If, all in all, Sanofi ends up with more than 90%, shareholders will get the same value via short-form merger (it is an easy concept, but I will explain in a future post).

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