Sanofi (SASY.PA) said on Wednesday it aims to remove the board of takeover target Medivation (MDVN.O) by Aug. 1 at the latest.
The French drugmaker named eight candidates to replace the entire board of the cancer firm last month, stepping up pressure on the company which has rejected its $9.3 billion approach.
Sanofi is taking advantage of a so-called written consent rule that gives Medivation shareholders the ability to act at any time to replace directors.
The French drugmaker named eight candidates to replace the entire board of the cancer firm last month, stepping up pressure on the company which has rejected its $9.3 billion approach.
Sanofi is taking advantage of a so-called written consent rule that gives Medivation shareholders the ability to act at any time to replace directors.
