HALISTER: Medivation Said to Have Rejected Higher Offer From Sanofi

Medivation Said to Have Rejected Higher Offer From Sanofi

(Bloomberg) -- Medivation rejected a higher offer from Sanofi that valued the co. at about $61/shr: people familiar said.
  • SNY offered $58/shr, plus a CVR that Sanofi values at $3/shr: one person
  • Separately, MDVN said in statement agreed to terminate consent solicitaton; entered confidentiality pact with Sanofi, others
  • MDVN has business update call tomorrow at 4:30pm
  • NOTES: April 28, Sanofi Offers to Buy Medivation for $52.50/Shr in Cash
  • June 28, Medivation Holders Said to Want at Least $60/Shr: CNBC’s Faber
  • June 16, Medivation Remains ‘Amenable’ to a Deal, Not at $52.50: Barclays
  • NOTE: Earlier, Medivation Said Engaging With Sanofi After Sweetened Bid: Rtrs
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
MDVN US (Medivation Inc)
SAN FP (Sanofi)

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