Sanofi, Genzyme reach agreement at $74 plus CVR

BOSTON Tue Feb 15, 2011 12:21pm EST

BOSTON Feb 15 (Reuters) - Sanofi-Aventis SA (SASY.PA) and Genzyme Corp GENZ.O 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. (Reporting by Toni Clarke, editing by Maureen Bavdek)