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Monday, February 7, 2011

Sanofi-Genzyme takeover talks in final stretch, (SASY), (NASDAQ: GENZ)

France's Sanofi-Aventis (SASY.PA) was closing in on a roughly $20 billion deal to buy U.S. biotech group Genzyme (GENZ.O) while pausing to take a final look at the books, sources familiar with the matter said. Talks about a takeover of Genzyme continued on Monday despite expectations that the two sides would hammer out a reconciliation at the weekend, following a testy courtship. A final deal could be announced within days, the sources said. Shares in Sanofi rose, indicating investors remained confident the second-largest takeover deal in the history of the biotech sector would go ahead.

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