Sanofi to Nominate 8 Directors for Medivation Board -CNBC's Faber
May 13 2016 - 10:18AM
Dow Jones News
Sanofi SA (SNY) will nominate eight directors to replace
Medivation Inc.'s (MDVN) current board as soon as late next week,
CNBC's David Faber reported Friday, citing people familiar with the
matter.
Goldman Sachs Group Inc. (GS) and Morgan Stanley (MS) have been
hired by Sanofi to assist in the matter, the people told CNBC.
The Paris-based drugmaker last week said it sent a letter to
Medivation indicating it would attempt to replace its board if
Medivation didn't engage in takeover talks. Medivation previously
had rejected a $9.3 billion offer from Sanofi, calling it a
"substantially inadequate proposal."
Full story at:
http://www.cnbc.com/2016/05/13/sanofi-to-nominate-8-people-to-replace-medivation-board.html
Write to nymonitoring@dowjones.com
(END) Dow Jones Newswires
May 13, 2016 10:03 ET (14:03 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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