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Friday, February 4, 2011

Sanofi may announce Genzyme deal before Wednesday-sources, (SASY), (NASDAQ: GENZ)

French drugmaker Sanofi-Aventis (SASY.PA) could unveil an agreement to acquire U.S. biotech Genzyme (GENZ.O) before Wednesday, the day Sanofi is due to publish its 2010 results, sources close to the matter said. A deal would bring to a close the long-running saga sparked by Genzyme's rejection of Sanofi's initial $18.5 billion offer, worth $69 a share, which the French group has extended until Feb. 15. [ID:nLDE70P0YF] "We are close to an agreement", one source close to the deal said. Another source said Wednesday was a likely cut-off for an announcement.

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