Amgen, Onyx deal
The companies said Amgen will acquire Onyx for $125 per share in cash, or about $10.4 billion including Onyx's cash. Onyx markets multiple myeloma drug Kyprolis carfilzomib as well as Nexavar sorafenib with Bayer AG (Xetra:BAYN, Leverkusen, Germany) to treat liver cancer and advanced kidney cancer. The final price is above Amgen's unsolicited offer of $120 per share, which Onyx's board rejected early last month, but is less than the $130 per share in cash to which Amgen was rumored to have raised its bid. Amgen reported 2012 revenues of $17.3 billion, and Onyx reported 2012 revenues of $362.2 million (see BioCentury, July 15).
The final price is a 7% premium to Onyx's close of $116.96 on Aug. 23, before the deal was announced. The price is a 44% premium to Onyx's close of $86.82 on June 28, before rumors surfaced that Amgen was considering a bid for Onyx. ...