Goldman, JPMorgan, Evercore and Credit Suisse Cash in on $20

by Derek Loosvelt | February 16, 2011

  • My Vault

Following months of haggling over price, the boards of French drug maker Sanofi-Aventis and Cambridge, M.A.-based biotech company Genzyme have finally agreed to a deal that will hand Genzyme over to Sanofi for a healthy $20.1 billion.

Advising on the deal -- and picking up some extremely rich advisory fees in the process -- were Evercore Partners and JPMorgan (on the Sanofi side) and Goldman Sachs and Credit Suisse (advising Genzyme).

As a result of the acquisition, "Genzyme will become a global center for Sanofi in the study of treating rare diseases, and the deal will increase the French drug maker’s presence in the Boston area. Integration planning begins immediately."

No word yet on how many jobs will become redundant as a result of the deal. Sanofi-Aventis has over 100,000 employees, while Genzyme has about 12,000.


Filed Under: Finance

Today's BigLaw Spring Bonus News Nationwide Job Fairs in the Next Week: (February 21) to (Feb

Vault welcomes your views. Please stay on topic and be respectful of other readers. Review our User Guidelines.

blog comments powered by Disqus

Featured Companies

Become a Vault Basic Member

Complete your Vault Profile and get seen by top employers