Medivation (MDVN) Said to Work with Bankers to Defend Against Takeover (SNY)

(Updated - March 30, 2016 4:30 PM EDT)

Medivation (NASDAQ: MDVN) said to work with bankers to defend against takeover, according to Bloomberg.

UPDATE - Sources said that Medivation doesn't currently plan to sell itself.

StreetInsider.com recently reported that Sanofi (NYSE: SNY) might have been a potential suitor for Medivation. Bankers have been pitching Medivation to Sanofi in recent weeks.

While a company has made an approach to Medivation, the specific name of the company couldn't be learned.

Other names that have been dropped include Roche (OTC: RHHBY) and AstraZeneca (NYSE: AZN).

Shares of Medivation are up nearly 10 percent in late trading.

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