- Paris-based company is “Party A” in regulatory filing
- Biogen beat Sanofi by 50 cents to win the biotech company
Biogen Inc. narrowly beat out Sanofi SA to clinch its $7.3 billion acquisition of Reata Pharmaceuticals, according to people familiar with the matter.
An entity identified as “Party A” in a regulatory filing Friday lost the competition for Reata by 50 cents per share after several rounds of bidding. Party A was Sanofi, the people said, asking to not be identified because the matter isn’t public. Representatives for Reata, Sanofi and Biogen declined to comment.
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