Mergers

The Paris-based pharma behemoth, Sanofi-Aventis, leads the second-largest health-care acquisition of 2010 with its proposed purchase of Genzyme Corp., one of the world’s leading biotech players. The European Union has recently announced its approval for the proposed $18.5 billion deal, however, the deal has been held up as Genzyme considers the $69 per share offer as too low. Industry insiders speculate that this deal will soon be worked out.
 

From Associated Press (July 8, 2010)

NEW YORK -- Alcon Inc.’s Independent Director Committee said Thursday it created a litigation trust with $50 million for litigation related to any deal between Alcon and a majority shareholder, with a focus on Novartis.

The trust was formed to provide funds to commence, defend or maintain a lawsuit. Novartis currently owns about 23 percent of Alcon and is trying to buy the company. It has offered up to $39 billion for Alcon.