Report: Sanofi approaches Genzyme with buyout deal

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Sanofi-Aventis (NYSE: SNY)  has approached Genzyme (NASDAQ: GENZ) regarding a potential buyout deal, causing the beleaguered biotech's stock to surge Friday afternoon. Citing people familiar with the matter, the Wall Street Journal reports the two sides are in the early stages of assessing each other's interest in the deal, including the appropriate price for Genzyme. The rare disease company has a market cap of $13 billion. Read more...

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