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| Name | Symbol | Market | Type |
|---|---|---|---|
| Sanofi | NASDAQ:SNY | NASDAQ | Depository Receipt |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.71 | 1.43% | 50.28 | 50.22 | 50.29 | 52,816 | 14:24:18 |
From May 2019 to May 2024
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.
Medivation is a Nasdaq-listed company based in San Francisco with one marketed prostate cancer therapy, called Xtandi, and two additional oncology assets in clinical development.
Sanofi Chief Executive Olivier Brandicourt said the deal fit the company's strategy. "With Medivation's best-in-class offerings in prostate cancer, we believe a combination would benefit patients and, at the same time, generate value for shareholders of both companies."
Write to Nick Kostov at Nick.Kostov@wsj.com
(END) Dow Jones Newswires
April 28, 2016 03:05 ET (07:05 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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