The boards of Genzyme Corp (GENZ.O) and Sanofi-Aventis SA (SASY.PA) are scheduled to meet on Sunday to discuss Sanofi's proposed acquisition of Genzyme, according to sources with knowledge of the situation. The deal is expected to be priced at $74 in cash, or $19.2 billion, based on Genzyme's outstanding shares of 258.99 million as of Oct. 29, plus a contingent value right, or CVR, with an intrinsic value of $5 to $6 a share, the sources said. Sanofi, a French-based drugmaker, took its initial bid of $69 a share directly to Genzyme shareholders in October, but the two companies in recent weeks have entered direct negotiations on a higher price.
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