Amgen, Tularik deal

AMGN will acquire the 79% of TLRK it does not already own for $25 per share in AMGN stock, valuing the deal at $1.3 billion based on TLRK's 52 million shares outstanding. The take-out price is about a 47% premium to TLRK's close of $17 on March 26. The acquisition is expected to close in the second half. AMGN expects 2004 adjusted EPS to remain unchanged, but expects R&D spend to increase by $100 million per year for the next several years as a result of the acquisition. ...