Sanofi-Aventis to Buy Genzyme for $20 billion

According to the Associated Press, Sanofi-Aventis is buying specialty drugmaker Genzyme for $20.1 billion. Sanofi, the world''s fourth-largest drug maker, overcame Genzyme''s reluctance to a takeover by raising its previous offer to $74 per share and agreeing to make additional cash payments pending the success of several drugs. Wednesday''s announcement comes after nearly nine months of back-and-forth between the two companies, with Sanofi-Aventis finally deciding Genzyme''s portfolio of rare disease treatments was worth adding an extra $5 a share to its original $69 per share offer.