On Friday Sanofi-Aventis SA completed its buyout of Genzyme Corporation. Sanofi-Aventis reports Genzyme stock holders tendered 224.5 million shares (84.6%) of the outstanding stock as of April 8, 2011.
GENZ stock will cease trading on the NASDAQ with the completion of the buyout.
French drug maker Sanofi-Aventis raised its price to $74 per share from an initial offer of $69 per GENZ share.
The deal is valued at $20.1 billion with $74 cash and a contingent value right (CVR). The CVR is listed on the Nasdaq market under the stock symbol GCVRZ. The CVR GCVRZ begain trading on April 4, 2011 at $2.20 a share and closed at $2.32 on April 8.
Genzyme Corporation
