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Delta ordered on Friday 37 of Airbus's medium-haul A321 aircraft with a catalogue price $4.2 billion (3.7 billion euros) as the US airline seeks to quickly retire older planes. "The order for the A321s is an opportunistic fleet move that enables us to produce strong returns and cost-effectively accelerate the retirement of Delta's 116 MD-88s in a capital efficient manner," Delta's incoming chief executive Ed Bastian was quoted as saying in an Airbus statement, referring to its McDonnell Douglas aircraft which date from the late 1980s to early 1990s. The order is for A321s equipped with standard engines as opposed to newer more fuel-efficient version for which Airbus has a huge backlog of orders, and follows previous orders in 2013 and 2014.
French pharmaceutical giant Sanofi vowed to open a hostile takeover battle Friday after its $9.3 billion (8.2 million-euro) offer for US cancer drug maker Medivation was dismissed for being too cheap. Sanofi, warning that has a strong record in takeovers, said it will not give up its pursuit of the reluctant American prey, manufacturer of the high-priced, blockbuster prostate cancer medication Xtandi. Medivation said its board had unanimously rejected Sanofi's unsolicited, non-binding cash offer of $52.50 a share, declaring that it "substantially" undervalued the company and was not in the interests of shareholders.