BlackRock To Replace Genzyme In The S&P 500 Index (BLK, GENZ)
BlackRock (NYSE: BLK) is scheduled to replace Genzyme (NASDAQ: GENZ) in the S&P 500 as the biotech company is set to be acquired.
BLK, the world's largest money manager, is trading $8.84 higher than yesterday's close, or +4.7%.
GENZ is trading flat since yesterday's closing price.
BlackRock (NYSE: BLK) will replace Genzyme (NASD: GENZ) in the S&P 500 index after the close of trading on Friday, April 1, 2011. S&P Global 1200 constituent Sanofi-aventis (NYSE: SNY) is acquiring Genzyme in a deal expected to be completed soon, pending final conditions.
Standard & Poor's will monitor this transaction, and post any relevant updates on its website: www.standardandpoors.com.
BlackRock is a publicly owned investment manager. Headquartered in New York, NY, the company will be added to the S&P 500 GICS (Global Industry Classification Standard) Asset Management & Custody Banks Sub-Industry index.
