Amgen's preemptive strike
Amgen opening bid may have dissuaded competing offers for Onyx
On Aug. 25 the companies agreed to a purchase price of $125 per share in cash, or about $10.4 billion.
The price is a 7% premium to Onyx's close of $116.96 on Aug. 23, the last trading day prior to the announcement, and a 44% premium to Onyx's close of $86.82 on June 28, before rumors surfaced that Amgen was considering an offer.
The final price is just $5 above Amgen's initial offer of $120 per share, which Onyx's board rejected in July. The takeout price also is less than the $130