NEW YORK (AP) — French drug company Sanofi is trying to toss the entire board at Medivation after the U.S. drugmaker rejected its $9.3 billion takeover bid.
Sanofi says Medivation has refused to discuss a deal. On Wednesday it named eight people that could replace Medivation's current board and who would be open to negotiations.
Medivation Inc. in a letter Wednesday told its shareholders to reject Sanofi's attempted board coup.
The San Francisco company earlier month said that the offer from Sanofi undervalued the company.