Sanofi-aventis Announces Statement Related to Genzyme Acquisition: Effective for $74.00 per Share

Sanofi-aventis SNY announced today that the registration statement relating to the Contingent Value Rights offered to Genzyme shareholders as part of sanofi-aventis' agreement to acquire Genzyme has been declared effective by the U.S. Securities and Exchange Commission. In accordance with the terms of its agreement with Genzyme, sanofi-aventis has commenced an exchange offer to acquire all of the outstanding shares of Genzyme common stock for $74.00 in cash and one CVR per share. The CVR entitles the holder to receive additional cash payments if specified milestones related to Lemtrada are achieved over time or a milestone related to production volumes in 2011 for Cerezyme and Fabrazyme is achieved. Upon closing of the exchange offer, the CVRs will be listed on the Nasdaq market under the ticker symbol "GCVRZ".