Genzyme Agrees to Acquire SangStat Medical

General Electric plans to sell its financial-guaranty insurance business to a consortium led by PMI Group, and more deal news

Genzyme Corp. (GENZ ) agrees to acquire SangStat Medical Corp. (SANG ) in an all cash transaction valued at $22.50 per SANG share, or about $600 million. The transaction is expected to cause Genzyme's GAAP EPS to be lower due to amortization through 2004. (8/4)

General Electric (GE ) plans to sell its financial-guaranty insurance business for about $2.16 billion, slightly below book value, to a consortium led by PMI Group, according to a Wall Street Journal report. (8/4)

Ascential Software (ASCL ) agrees to acquire Mercator Software in a deal valued at $106 million. Terms: $3 in cash per Mercator share. (8/4)

Union Pacific's (UNP ) board approved the sale of Overnite, its Richmond, Va.-based trucking unit, through an initial public offering. (8/4)

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