Sanofi Makes Offer for Medivation in $9.3 Billion Deal
April 28 2016 - 3:00AM
Dow Jones News
By Nick Kostov
PARIS--Sanofi SA on Thursday said it has made an all-cash offer
to acquire Medivation Inc. in a deal valued at $9.3 billion, the
French drugmaker's latest effort to expand its cancer-treatment
business.
Sanofi said it would pay $52.50 a Medivation share, a premium of
over 50% to Medivation's average share price for the two months
before speculation of a takeover surfaced.
Write to Nick Kostov at Nick.Kostov@wsj.com
(END) Dow Jones Newswires
April 28, 2016 02:45 ET (06:45 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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