Genzyme, Sekisui Chemical Co. Ltd. deal

Sekisui will acquire Genzyme's diagnostics products business for $265 million in cash. The unit provides raw materials, enzymes, clinical chemistry reagents, rapid tests and infectious disease products. Sekisui said the deal will strengthen its core businesses and establish a platform for growth outside of Japan. According to Genzyme, Sekisui agreed to offer employment to the unit's 575 employees and plans to maintain operations in all of its locations, which are in the U.K., North America and Germany. The unit had 2009 revenues of $167 million. Credit Suisse and Goldman Sachs advised Genzyme on the deal, which is expected to close by year end. ...