Reported in Reuters, Pfizer Inc (PFE.N) has approached Medivation Inc (MDVN.O) – the US cancer drug maker – regarding the possibility of an acquisition, and a potential bid rivalling a $9.3 billion offer by Sanofi SA (SASY.PA).
The action comes less than a week after Sanofi made its own intentions known, in which Medivation declined the offer, taking the view that it was too low.
According to the report, Pfizer hasn’t yet decided whether to engage in the negotiations.
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