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Genzyme, Cell Genesys merger terminated

Executive Summary

Genzyme General is buying Cell Genesys (gene therapy) for $350mm worth of Genzyme common stock. The acquisition values each Cell Genesys share at $10, a (pr)26% premium to its 10-day trailing average, and should close in the first quarter of next year. The agreement includes a collar: the exchange ratio will not be greater than 0.317 or less than 0.181 Genzyme share.
Deal Industry
  • Biotechnology
    • Gene Therapy, Cell Therapy
  • Pharmaceuticals
Deal Status
  • Withdrawn
Deal Type
  • Acquisition
    • Payment Includes Stock
    • Full Acquisition

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