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Sanofi Files Hart-Scott-Rodino notification for Medivation acquisition

Published on 13/05/16 at 09:05am

French drugmaker Sanofi (Euronext: SAN) on Friday said it has filed a premerger notification with the US Department of Justice Antitrust Division and the Federal Trade Commission regarding its intention to acquire Medivation (Nasdaq: MDVN).  

The HSR Act requires big firms to file a report with the government ahead of a merger, acquisition or tender offer so that regulators can determine whether the transaction would violate antitrust laws.  

Earlier in May, Sanofi made an unsolicited bid for Medivation offering $52.50 per share or $9.3 billion in an all cash deal after the US drugmaker spurned its proposal for talks. 

Sanofi, looking to strengthen its prostate cancer portfolio, made the initial offer early April. The company followed up the offer for talks with a formal proposal on April 15.     

Pfizer and Amgen reportedly joined the bidding race in the following days. 

Anjali Shukla

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