Genzyme, Neozyme II Corp. deal

GENZ reached an agreement in principle to acquire NIIUF for $108 million, or $45 per NIIUF unit, in a cash transaction. NIIUF was formed in 1992 to conduct research, development, and clinical testing of products for cystic fibrosis under contract with GENZ. NIIUF has 2.4 million units outstanding, each of which consists of one share of NIIUF and a callable warrant to purchase two shares of Genzyme General Division (GENZ) and 0.135 share of Genzyme Tissue Repair Division (GENZL). ...