ARTICLE | Company News

Biogen Idec, Facet Biotech deal

December 7, 2009 8:00 AM UTC

Biogen raised its tender offer for partner Facet by $3 per share to $17.50 per share in cash, or a total of about $449.9 million. The new offer is a 98% premium to Facet's close of $8.82 on Sept. 3, the day before the original $14.50 per share offer was announced; and a 3% premium to Facet's close of $16.91 on Dec. 2, the day before the new offer was announced. The tender offer, which started in September, expires on Dec. 16. ...