Biotech Values

[DewDiligence]

SNY proposes to acquire MDVN @$52.50/sh in cash:

http://mediaroom.sanofi.com/sanofi-offers-to-acquire-medivation-for-52-50-per-share-in-cash-proposal-would-provide-immediate-and-certain-value-to-medivations-shareholders-combination-would-create-complementary-offerings-t/

MDVN acknowledged the offer, saying it’s not significantly different from SNY’s prior non-public offers (http://finance.yahoo.com/news/medivation-confirms-receipt-unsolicited-proposal-131215174.html ):

Consistent with its fiduciary duties, the Board, with the assistance of its independent financial and legal advisors, immediately began the process of evaluating this proposal. As today's public disclosure of this proposal does not differ materially from the private correspondence received less than two weeks ago, the Board expects to complete its review of the proposal at a scheduled meeting today and will provide an update promptly thereafter. There are no assurances that a transaction will be reached or on what terms. Medivation stockholders are advised to take no action at this time.