Sanofi, Genzyme Boards Said to Be Likely to Approve Takeover

Sanofi-Aventis SA and Genzyme Corp. are likely to approve a takeover of the U.S. biotechnology company today and are discussing a price of about $74 a share plus potential additional payments tied to the performance of a Genzyme drug, said four people with knowledge of the plan.

A so-called contingent value right, a tradeable contract tied to Genzyme’s experimental multiple sclerosis drug Lemtrada, may be valued at about $3 when it begins trading and have a higher nominal value, said three people, who declined to be identified because the process is confidential.