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SunTrust: Medivation M&A Chatter Highlights Value, Company's 'Unique' Industry Position

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Medivation, Inc. NASDAQ:MDVN, Amgen Inc. NASDAQ:AMGN - SunTrust: Medivation M&A Chatter Highlights Value, Company's 'Unique' Industry Position

The M&A rumors continue to swirl around biotech firm Medivation Inc MDVN 0.41%, and a SunTrust analyst has commented that the latest take-over chatter highlights the value of the company.

A Bloomberg report said Medivation has rejected a take-out offer from Sanofi SA (ADR) SNY 0.85%, which is said to be working with advisers on a potential offer and hasn't ruled out making a hostile bid.

San Francisco-based Medivation, which makes prostate-cancer drug Xtandi, is seeking a higher price than initial proposals have indicated, the report said.

Meanwhile, media reports suggest Medivation has hired an investment bank to look into takeover interest from other...


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