OREANDA-NEWS. Sanofi today announced that it has filed an investor presentation with the U.S. Securities and Exchange Commission (“SEC”)  in connection with its proposed acquisition of Medivation, Inc. (NASDAQ: MDVN). This presentation is available on the Investor Relations section of Sanofi’s website.

Among other things, the presentation notes:

  • The proposed transaction would provide compelling strategic and financial benefits for Sanofi and Medivation shareholders;
  • Sanofi’s proposal is not subject to any financing condition and the company is confident in its ability to receive all necessary regulatory approvals;
  • The consent solicitation process allows Medivation shareholders to demonstrate support for a transaction by removing and replacing the Medivation Board with directors committed to acting in the best interest of maximizing value for Medivation shareholders;
  • Sanofi believes there is a clear path to completion: the record date to determine Medivation shareholders entitled to give their written consent has been established as June 1, 2016; Sanofi expects the initial Hart-Scott-Rodino (HSR) waiting period to expire on June 13, 2016; Sanofi anticipates filing definitive consent solicitation materials in mid-June 2016; and Sanofi signed a consent on June 3, 2016 for the shares it owns in Medivation and therefore expects that the 60-day consent solicitation period will conclude no later than August 1, 2016; and
  • Sanofi believes that Medivation’s shareholders overwhelmingly support the sale of Medivation and want Medivation to engage with Sanofi.