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Aventis To Be Bought for $65.5B

Pharmaceuticals maker Sanofi-Synthelabo of Paris announced last Monday it would pay $65.5 billion for Aventis SA of Strasbourg, France, which has its U.S. headquarters in Bridgewater. The deal will create the world’s third-largest pharmaceutical company, to be called Sanofi-Aventis.

Direct Group Bought Out for $50M

The senior management of Direct Group, together with funds advised by private equity firm Schroder Ventures US, announced last Monday it paid $50 million for Direct Group of West Trenton, a provider of direct mail services, from Prinexus Inc. Schroder Ventures US Funds was represented by Morrison Cohen Singer & Weinstein of New York City.

Canterbury Consulting Group Sells Total Stock of Subsidiary

Canterbury Consulting Group Inc. of Medford announced last Monday it sold the stock of its subsidiary, ATM/Canterbury Corp., to ATM’s previous owner for 25,000 shares of Canterbury common stock, valued at $61,300. Canterbury Consulting Group provides information technology and management consulting services. ATM/Canterbury Corp. is a software-development and records-management consulting company in Houston.

Merck Forms Alliance To Develop Diabetes Drug with Bristol-Myers

Pharmaceutical makers Merck and Bristol-Myers Squibb announced last Wednesday an alliance to develop and market an experimental diabetes treatment. The drug, muraglitazar, is intended to treat blood glucose and blood fats in people with type 2, or adult-onset, diabetes. Existing drugs usually attempt to control only blood glucose or blood sugar. Merck, of Whitehouse Station, will pay $100 million upfront to New York City’s Bristol-Myers and another $275 million based on achieving certain milestones.

Business Brief

NRG Energy Inc. of Minneapolis, a wholesale power generation company, announced last Tuesday it has selected West Windsor as the preferred site for its new corporate headquarters. To help finance the transition, NRG will receive a Business Employment Incentive grant that could total $7.5 million over 10 years from the New Jersey Economic Authority.

Compiled by Amy E. Rice from Thomson Financial/Securities Data and other sources

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