Abivax (ABVX) ADRs rose 23% in premarket trading after a report that Eli Lilly (LLY) is preparing to offer €15 billion for the French biotech firm.
Lilly (LLY) is waiting for an indication from the French Finance Ministry if a takeover would be the subject of foreign investment controls, France’s La Lettre reported on Monday.
The latest reporting comes after recent takeover speculation regarding Abivax, especially with Lilly (LLY) as the acquirer. Betaville’s “uncooked” alerts speculating about a potential acquisition of the company sent Abivax (ABVX) ADRs higher twice in September and November.