Sanofi was mystery suitor in Reata Pharma bidding war - report
HJBC
Sanofi (NASDAQ:SNY) was the other buyer in the recent bidding war for Reata Pharmaceuticals (NASDAQ:RETA), narrowly losing out to Biogen's $7.3 billion offer.
The entity identified as "Party A" in a regulator filing on Friday was Sanofi (SNY), according to a Bloomberg report on Tuesday, which cited people familiar with the matter. Sanofi bid $172 on July 27, just below Biogen's (NASDAQ:BIIB) offer of $172.50. 
A typo in a 10-Q filing last week from Reata (RETA) had some investors speculating that Merck (MRK) was the rival bidder, according to Bloomberg. 
This was the typo in the filing last week. 
"The Merger Agreement also provides that, in connection with the termination of the Merger Agreement under specified circumstances including antitrust related circumstances, Merck will be required to pay us a termination fee of $301.0 million." 
Late last year, Sanofi (SNY) also lost out in a battle for Horizon Therapeutics (HZNP), when Amgen (AMGN) agreed to purchase the biotech for almost $28 billion.

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