Regeneron (REGN) announced that it received from Sanofi (SNY) a notification under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 that Sanofi intends to acquire Common Stock of Regeneron through open market purchases and direct purchases from shareholders. As a result, Sanofi intends that the value of its ownership of voting securities of Regeneron stock will be in excess of the $500M HSR Act notification threshold. Sanofi has no plans to take a controlling stake in REGN.
REGN will probably trade enough volume to have a pocket pivot in today's trade if it can close at or above its 50dma.
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