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)

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