Amgen seen raising bid to acquire Onyx Pharmaceuticals: report
(Reuters) - Amgen Inc is expected to sweeten its offer to acquire Onyx Pharmaceuticals Inc to $130 per share after its previous bid was rejected as too low, Bloomberg reported on Tuesday, citing a person familiar with the matter.
After Amgen's unsolicited offer of $120 per share was turned down, Onyx said in June it was seeking takeover bids from other potential buyers.
The $130 offer is currently the highest bid on the table for Onyx, according the anonymous source, the report said.
A spokeswoman for Amgen, the world's largest biotechnology company, declined to comment on the report. Onyx also declined to comment.
The purchase would give Amgen full rights to Onyx's new blood cancer drug Kyprolis, as well as revenue from Nexavar, a kidney and liver cancer drug Onyx shares with German drugmaker Bayer AG.
Onyx shares closed at $132.02 on Nasdaq on Tuesday. They had traded as high as $136.87 last month in a clear indication that investors are betting a takeover will come at a higher price.
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