Reuters ahead on Sanofi offer letter and terms

Reuters was far ahead of the competition in reporting that Sanofi-Aventis sent a formal offer to Genzyme, breaking news that had been eagerly awaited for days. The Aug 4 story nailed down the exact price of the offer, while competitors were still hedging their bets with a range of potential prices. Shares of Genzyme rose 1.5 percent in after hours trading immediately after the Reuters snap on the offer letter hit.