Navigate this market better. Subscribe for FREE stock alerts and information.

Sunday, February 6, 2011

Genzyme, Sanofi boards meet to discuss deal -sources, (SASY), (NASDAQ: GENZ)

The boards of Sanofi-Aventis SA (SASY.PA) and Genzyme Corp (GENZ.O) are scheduled to hold separate meetings on Sunday to discuss a potential deal, but talks may linger into the week, sources familiar with the situation said on Sunday. Sanofi, close to clinching a more than $19 billion deal to buy Genzyme, continues to conduct due diligence and the two companies have not yet finalized an agreement, sources said. The deal's timing remained unclear. Although an announcement could come as early as Monday, sources cautioned that discussions could linger into the week.

Source