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BUZZ-Medivation: Sanofi makes $9.3 bln bid

Reuters - UK Focus

(Adds Medivation pre-market move)

** Shares (Berlin: DI6.BE - news) of Medivation (NasdaqGS: MDVN - news) jump 6 pct in pre-market trade, set to hit 9-mth high, while Sanofi (LSE: 0O59.L - news) 's shares are down 2 pct

** The French pharma group proposes to buy Medivation for $52.50 per share, a 50 percent premium over Medivation's recent volume weighted average share price prior to takeover rumours

** U.S (Other OTC: UBGXF - news) . cancer firm's pre-market trade indicates stock opening at $56.00, 7 pct above offer price

** Sanofi's offer is 25 pct below Medivation's record high price of $70.79, which it hit in March 2015

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** Analysts see a potential takeover fight, with Japan-based Astellas Pharma (Other OTC: ALPMF - news) and Britain's AstraZeneca (NYSE: AZN - news) as potential bidders

** Sanofi down for 3rd straight day (thyagaraju.adinarayan.thomsonreuters.com@reuters.net; Twitter (Swiss: TWTR.SW - news) @thyagu)