ARTICLE | Company News

Allos, AMAG Therapeutics Inc. deal

July 25, 2011 7:00 AM UTC

Hematology company AMAG and cancer company Allos will merge in a stock deal that values Allos at about $2.44 per share, or $258 million. The companies said the merger will allow a single commercial team to sell Allos' Folotyn pralatrexate and AMAG's Feraheme ferumoxytol, with the merger resulting in annual savings of about $55-$60 million.

Allos shareholders, who will receive 0.13 shares of AMAG stock for each Allos share, will own about 39% of the combined company. AMAG shareholders will own the remaining 61%. The deal value is based on Allos' 105.6 million shares outstanding at May 6 and AMAG's close of $19.07 on July 19, before the deal was announced. ...