M & A Law Prof Blog

Editor: Brian JM Quinn
Boston College Law School

Saturday, February 5, 2011

Genzyme & Sanofi boards' Sunday meetings

Reuters is reporting that Genzyme and Sanofi's respective boards will be meeting on Sunday.   A couple of things: 

The deal is expected to be priced at $74 in cash, or $19.2 billion, based on Genzyme's outstanding shares of 258.99 million as of October 29, plus a contingent value right, or CVR, with an intrinsic value of $5 to $6 a share, the sources said.

Reuters is also indicating that the CVR will be registered and thus tradable.  We'll see.  I suppose there will be some interesting reading on Monday morning. 



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