Investing.com – Medivation (NASDAQ:MDVN) shares were sharply higher Monday on reports of Pfizer (NYSE:PFE) bid.
Shares of the U.S. cancer therapy firm were up 20.9% at $81.20 in pre-market trade.
Pfizer reportedly is set to make an offer of close to $14 bn as early as Monday.
A bid of that size would represent as 26% premium to Medivation’s closing price Friday of $67.16.