Markets & Finance

Genzyme Agrees to Acquire SangStat Medical

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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