Sanofi-Aventis: Genzyme CVR Declared Effective By SEC
March 29 2011 - 11:23AM
Dow Jones News
French pharmaceuticals company Sanofi-Aventis (SNY) Tuesday said
that the registration statement relating to the Contingent Value
Rights offered to Genzyme (GENZ) shareholders has been declared
effective by the U.S. Securities and Exchange Commission.
MAIN FACTS:
- In accordance with the terms of its agreement with Genzyme,
Sanofi-Aventis has commenced an exchange offer to acquire all of
the outstanding shares of Genzyme common stock for $74.00 in cash
and one CVR per share.
- The CVR entitles the holder to receive additional cash
payments if specified milestones related to LemtradaTM (alemtuzumab
MS) are achieved over time or a milestone related to production
volumes in 2011 for Cerezyme (imiglucerase for injection) and
Fabrazyme (agalsidase beta) is achieved.
- Upon closing of the exchange offer, the CVRs will be listed on
the Nasdaq market under the ticker symbol "GCVRZ".
- The exchange offer to acquire Genzyme is scheduled to expire
at 11:59 p.m., New York City time, on April 1, 2011.
- By Paris Bureau, Dow Jones Newswires; +331-4017-1740;
paris@priority.emea.dowjones.com
Genzyme (NASDAQ:GENZ)
Historical Stock Chart
From Aug 2024 to Sep 2024
Genzyme (NASDAQ:GENZ)
Historical Stock Chart
From Sep 2023 to Sep 2024