Tags: Amgen | Onyx | deal | takeover

Amgen Close to Onyx Takeover, Deal Possible Within Week

Wednesday, 07 Aug 2013 12:54 PM

Onyx Pharmaceuticals Inc. is close to selling itself to larger rival Amgen Inc. after the cancer drugmaker's high stock price discouraged other companies from making a counter offer, according to three people familiar with the matter.

Amgen, the world's largest biotechnology company, is in advanced discussions to buy Onyx, with the two sides possibly making a possible announcement as soon as within the next week, the sources said on Wednesday.

Terms of an agreement have yet to be finalized, but the companies are negotiating a price of $130 per share, or nearly $9.5 billion, based on shares outstanding. Onyx has indicated it would likely accept a deal at that price, the sources said.

Discussions could still fall apart, and there was no guarantee an agreement will be reached, according to the sources, who asked not to be identified because the matter is confidential.

Representatives of Amgen and Onyx declined to comment.

© 2017 Thomson/Reuters. All rights reserved.

 
1Like our page
2Share
Companies
Onyx Pharmaceuticals Inc. is close to selling itself to larger rival Amgen Inc. after the cancer drugmaker's high stock price discouraged other companies from making a counter offer, according to three people familiar with the matter.
Amgen,Onyx,deal,takeover
151
2013-54-07
Wednesday, 07 Aug 2013 12:54 PM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved