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Sanofi to buy Sarepta? ‘No comment’

April 30, 2017

Sanofi (NYSE: SNY) said it doesn’t comment on market rumors when asked to respond to chatter regarding a potential takeover of Sarepta Therapeutics (NASDAQ: SRPT).

Yesterday, Sarepta reported the resignation of CEO Edward M. Kaye and director Jean-Paul Kress decided not stand for re-election, and shares of Sarepta gained amid rumors of a potential combination following the two executive departures.

As noted by Street columnist Adam Feuerstein, Jean-Paul Kress, a Sanofi executive, informed the Board that, “in anticipation of time commitments and a possible conflict of interest associated with his future endeavors, he has elected to not stand for re-election and will complete his term on the Board at the conclusion of the Company’s 2017 annual meeting of stockholders.”

The disclosure stoked speculation that a tie-up is in the works.

“We do not comment on market rumors,” Sanofi said via email when asked about a potential takeover of Sarepta.

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