In the Margins

Sanofi goes after Medivation board in takeover battle

May 25, 2016

By The New York Times

French pharmaceutical company Sanofi said it will seek to replace the board of Medivation after the American drug maker’s directors rejected a $9.3 billion takeover offer. Sanofi said in April that Medivation’s directors had failed to respond to its approach. Meanwhile, Medivation’s board called the offer “inadequate,” and founder and CEO David Hung has said the French company’s move was “opportunistically timed.” Read the original story from The New York Times.