Reuters logo
Sanofi says talked with Medivation, but will be "disciplined" acquirer
August 22, 2016 / 12:31 PM / a year ago

Sanofi says talked with Medivation, but will be "disciplined" acquirer

PARIS, Aug 22 (Reuters) - French pharmaceutical group Sanofi reacted to Pfizer’s roughly $14 billion cash deal for Medivation Inc by saying it had appreciated the chance to engage in talks with Medivation in past weeks.

The company did not explicitly rule out making a higher offer for the U.S. cancer drug company.

“While we recognized the potential strategic benefits of a combination with Medivation, we are first and foremost a disciplined acquirer and remain committed to acting in the best interests of Sanofi shareholders,” Sanofi said in a statement.

Pfizer Inc said on Monday it would buy Medivation in a deal valued at about $14 billion to boost its oncology portfolio. Pfizer will offer Medivation shareholders $81.50 per share in cash, a substantial premium to Sanofi’s first offer of $52.50 made in April.

Reporting by Noelle Mennella; Writing by Geert De Clercq; Editing by Richard Lough

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below