Genzyme, IG Laboratories Inc. deal

GENZ (Cambridge, Mass.) will acquire the remaining 31.5 percent of IGLI it does not already own for $21 million, purchasing 3 million shares in a tax-free merger for about $7 per share.

GENZ will determine the exact exchange rate by dividing $7 by the average closing price of GENZ stock during the 10 trading days ending on the second trading day prior to the closing date for the merger. ...