BioCentury
ARTICLE | Company News

Medivation, Sanofi deal

July 11, 2016 7:00 AM UTC

Medivation said it entered into confidentiality agreements with “a number of parties” seeking to acquire Medivation, including Sanofi, which has been publicly pursuing the cancer company since April. That month, Sanofi offered $52.50 per share in cash or about $9.3 billion. Sanofi said that on June 27 it told Medivation it would increase its bid to $58 per share in cash plus a contingent value right (CVR) worth up to $3 per share. Medivation said its board unanimously rejected the new bid. ...