Abivax S.A. (ABVX) surged 12.18% in pre-market trading on Monday, following media reports of a potential takeover bid by pharmaceutical giant Eli Lilly.
French outlet La Lettre reported that Eli Lilly met with France’s Treasury in early December to discuss regulatory approval for a potential acquisition of the biotech firm. While Reuters could not immediately confirm the report, traders noted heightened speculation about a deal between the two companies. Abivax declined to comment on the rumors.
One trader suggested that if the meeting with the French Treasury did occur, it could indicate a price agreement between Eli Lilly and Abivax has been reached in principle. This speculation has driven significant investor interest in Abivax shares.
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