Genzyme Corporation

Genzyme Completes Tender Offer to Acquire Bioenvision, Inc.

Published in Healthcare Finance, Tax and Law Weekly, July 25th, 2007

Genzyme Corporation (NASDAQ:GENZ) announced that it has completed its tender offer to acquire shares of Bioenvision, Inc. (NASDAQ:BIVN) capital stock and that a proxy statement will now be prepared by Bioenvision for a shareholder meeting to occur before the end of the year.

Genzyme will purchase approximately 19 percent of the outstanding shares of Bioenvision common stock on an as-converted basis, including the 100 percent of outstanding shares of preferred stock that have already been tendered. Each share of preferred stock can be converted into approximately two shares of common stock, and also carries a separate class vote over any merger or business combination of...

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Source: Healthcare Finance, Tax and Law Weekly (2007-07-25)

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