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By Matthias Blamont PARIS (Reuters) - Sanofi and its takeover target Medivation dug in for trench warfare on Friday, with the French drugmaker confident of winning over investors and the U.S. cancer firm insisting it was better off staying independent. Sanofi, which has a track record of winning hostile fights in the biotech sector, said it was ready to speak directly to Medivation shareholders about its spurned $9.3 billion offer. "While to date Medivation has chosen not to enter into discussions regarding this value-creating transaction, Sanofi remains committed to the combination," it said.
By Tim Kelly, Cyril Altmeyer and Colin Packham TOKYO/PARIS/SYDNEY (Reuters) - In 2014, a blossoming friendship between Australian Prime Minister Tony Abbott and his Japanese counterpart Shinzo Abe looked to have all but sewn up a $40 billion submarine deal. Then French naval contractor DCNS hatched a bold and seemingly hopeless plan to gatecrash the party. Almost 18 months later, France this week secured a remarkable come-from-behind victory on one of the world's most lucrative defense deals.