Genzyme and Sanofi Getting Friendly

Now that both Sanofi-Aventis (Ticker: SNY) and Genzyme (Ticker: GENZ) have officially gone public with their respective statements, I get a very good vibe that a deal will happen. In an interview with Reuters today, Henri Termeer, Genzyme’s CEO, stated: “we need each other too much in terms of future value” and there was a “high probability” that a deal would eventually be consummated (direct quote from Reuters). There’s no doubt now that the companies will get together and start negotiating on friendly terms. I also believe there are other companies on the side lines ready to make bids once the serious negotiation starts.