Abivax jumps on media reports of Eli Lilly takeover bid

Abivax ABVX.PA stock up 8% after media reports takeover bid by Eli Lilly LLY.N

ABVX is top performer on SBF120 index .SBF120, which is down 0.3%

French outlet La Lettre reports Eli Lilly met with France’s Treasury in early December to gauge regulatory approval for a potential takeover of the biotech firm

Reuters could not immediately confirm the report

ABVX says, "we do not comment on market rumors or speculation"

Trader flags that speculation of a deal between the two companies has heightened

"If a meeting has truly taken place with the French general directorate of the Treasury, then it would indicate a price between LLY and ABVX has been agreed in principle," says the trader