Medivation Ticks Higher By 4%, AstraZeneca Said To Be Also Interested In Acquisition

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Shares of
Medivation IncMDVN
were trading higher by more than 3 percent early Monday following reports the company is being eyed as an acquisition target by more than 1 potential buyer. Medivation has already received interest from
Sanofi SA (ADR)SNY
and analysts suggested the stock could be worth $54 to $59 per share in terms of operational synergies and $60 to $75 per share with leveraged tax benefits. Related Link:
Medivation Surges On Reported Pushback Of Sanofi Takeover Effort
According to UK-based
The Times, AstraZeneca plc (ADR) AZN has been exploring an acquisition of Medivation for the past 6 months. The publication, citing "City [London's financial center] and Wall Street sources," added that while AstraZeneca hasn't made an official bid, management is "looking very closely." AstraZeneca's stock showed no trades early Monday morning.
Posted In: NewsRumorsMedivationPharmaceutical M&ASanofyThe Times
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