Genzyme, Sanofi Advance Negotiations

Genzyme and Sanofi-Aventis have moved onto a new stage in their merger negotiations. Genzyme’s board has authorized the company to enter into a confidentiality agreement with Sanofi in order to allow Sanofi to conduct due diligence. Discussions between the companies’ advisors and representatives are ongoing and are focused on the potential use of a contingent value right for alemtuzumab as a part of a potential resolution of the differences in valuation between the parties. The two sides have also discussed other potential terms for a negotiated transaction.