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| France's Sanofi makes $9.3 billion bid for U.S. biotech Medivation |
PARIS (Reuters) - French pharmaceuticals group Sanofi said on Thursday it had made an all-cash offer to buy U.S. biotech firm Medivation in a deal worth about $9.3 billion.
Sanofi said in a statement it was proposing a non-binding proposal to buy Medivation for $52.50 per share, representing a 50 percent premium over the San Francisco-based firm's recent volume weighted average share price prior to takeover rumors.
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