Genzyme/Sanofi-Aventis
On February 16 2011, Genzyme Corporation (Nasdaq: GENZ) confirmed a definitive agreement to be acquired by Sanofi-aventis (NYSE: SNY) for $74.00 per share in cash, or approximately $20.1 billion, plus one Contingent Value Right.
The Contingent Value Right entitling the holder to receive additional cash payments if specified milestones related to Lemtrada™ are achieved over time or a milestone related to production volumes in 2011 for Cerezyme® and Fabrazyme® is achieved. The CVR will be publicly traded.
The transaction is expected to close early in the second quarter of 2011.
Evercore Partners and J.P. Morgan served as sanofi-aventis' lead financial advisors on the transaction, and Weil, Gotshal & Manges LLP served as its legal counsel. Credit Suisse and Goldman Sachs served as financial advisors to Genzyme. Ropes & Gray LLP served as Genzyme's legal counsel, while Wachtell, Lipton, Rosen & Katz served as legal counsel to Genzyme's independent directors.
The Contingent Value Right entitling the holder to receive additional cash payments if specified milestones related to Lemtrada™ are achieved over time or a milestone related to production volumes in 2011 for Cerezyme® and Fabrazyme® is achieved. The CVR will be publicly traded.
The transaction is expected to close early in the second quarter of 2011.
Evercore Partners and J.P. Morgan served as sanofi-aventis' lead financial advisors on the transaction, and Weil, Gotshal & Manges LLP served as its legal counsel. Credit Suisse and Goldman Sachs served as financial advisors to Genzyme. Ropes & Gray LLP served as Genzyme's legal counsel, while Wachtell, Lipton, Rosen & Katz served as legal counsel to Genzyme's independent directors.
-
G1 Therapeutics Announces Addition of Alicia Secor to Board of Directors
-
Orchard Therapeutics Strengthens Global Commercial Leadership Team with Appointments of Heads of US and EMEA Region Commercial Operations
