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BlackRock to join S&P 500 index

BlackRock Inc, the world’s largest money manager, will be added to the Standard & Poor’s 500 Index, S&P said in a release on Tuesday. Get the full story »

Sanofi buys Genzyme for $20.1B

French drugmaker Sanofi-Aventis SA has agreed to buy Genzyme Corp. with a sweetened $20.1 billion cash offer, plus payments tied to the success of the U.S. biotech group’s drugs, the companies said on Wednesday.

The acquisition, which comes nine months after Sanofi CEO Chris Viehbacher first put the idea to Genzyme’s Henri Termeer, is expected to boost Sanofi’s earnings from the first year after completion by giving it a new platform in rare diseases. Get the full story »

Sanofi, Genzyme reportedly reach a deal

Sanofi-Aventis SA and Genzyme Corp. have reached an agreement in principle under which Sanofi will acquire Genzyme for $74 a share in cash plus a right to future payments based on the performance of Genzyme’s experimental multiple sclerosis drug, according to a source with knowledge of the discussions.

The deal is expected to be announced by Wednesday morning, the source said.

Sanofi to seal Genzyme deal soon, sources say

French drugmaker Sanofi-Aventis could unveil an agreement to acquire U.S. biotech Genzyme 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 to Feb. 15. Get the full story »

Genzyme makes case for demanding higher Sanofi bid

Genzyme Corp. made its case for why it is worth more than Sanofi-Aventis’s $18.5 billion offer, forecasting 2011 profit above Wall Street estimates and sales of $3 billion for its experimental multiple sclerosis drug. Get the full story »

Tempers frayed in Sanofi bid for Genzyme

Sanofi-Aventis dismissed a claim by bid target Genzyme that it dangled a higher price for the U.S. biotech company, as a trans-Atlantic takeover fight descended into an ill-tempered stand-off Friday.

Genzyme said Thursday that Sanofi’s chief executive floated the possibility of paying as much as $80 per share at a meeting in September before going hostile with a bid worth $69 per Genzyme share, or a total $18.5 billion. Get the full story »

Sanofi launches hostile $18.5B bid for Genzyme

French drugmaker Sanofi-Aventis launched a hostile bid for Genzyme at $69 per share on Monday, taking its $18.5 billion offer direct to shareholders after Genzyme management refused to negotiate. Get the full story »

Genzyme to sell genetic testing unit to LabCorp

Genzyme Corp. said Monday that it is selling its genetic testing business to Laboratory Corp. of America Holdings for $925 million so it can focus on its core growth areas.

Genzyme rejects Sanofi-Aventis’ $18.5B offer

Genzyme Corp. rejected an $18.5 billion takeover offer from French drugmaker Sanofi-Aventis, saying it dramatically undervalues the company. The Cambridge, Mass.-based biotechnology company said its board of directors met Sunday night and unanimously affirmed a previous rejection of Sanofi’s proposal. Get the full story »

Sanofi-Aventis makes $18B bid for Genzyme

Shares in Sanofi-Aventis SA are trading near a low for the year amid new reports that the French pharmaceutical giant is close to launching an $18 billion takeover offer for U.S. biotechnology firm Genzyme Corp.

Genzyme, Hospira reach new drug-packaging deal

Genzyme Corp., which is attempting to fix quality-control problems involving its top medicines, will have Hospira Inc. fill and package the drugs under a new supply agreement between the two companies, Genzyme said in a regulatory filing . Get the full story »