BlackRock To Replace Genzyme In The S&P 500 Index (BLK, GENZ)

BlackRock BLK is scheduled to replace Genzyme GENZ in the S&P 500 as the biotech company is set to be acquired. BLK, the world's largest money manager, is trading $8.84 higher than yesterday's close, or +4.7%. GENZ is trading flat since yesterday's closing price. BlackRock BLK will replace Genzyme GENZ in the S&P 500 index after the close of trading on Friday, April 1, 2011. S&P Global 1200 constituent Sanofi-aventis SNY is acquiring Genzyme in a deal expected to be completed soon, pending final conditions. Standard & Poor's will monitor this transaction, and post any relevant updates on its website: www.standardandpoors.com. BlackRock is a publicly owned investment manager. Headquartered in New York, NY, the company will be added to the S&P 500 GICS (Global Industry Classification Standard) Asset Management & Custody Banks Sub-Industry index.