Shares of Abivax (ABVX) after higher after French paper La Lettre reported that Eli Lilly (LLY) is ready to offer $17.5B to buy the company but is waiting for the French Finance Ministry to indicate if a takeover would be subject to foreign investment controls. The ministry on Monday said it had not received a dossier for investment screening from Lilly and is not in contact with the company. Shares of Abivax are off their highs but remain up 5% to $120.22 in morning trading.
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