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Onyx Pharmaceuticals Inc Expects Takeover Interest From Roughly Five Parties Including Amgen Inc And Pfizer Inc-DJ


Tuesday, 16 Jul 2013 11:45am EDT 

Dow Jones reported that Onyx Pharmaceuticals Inc is expecting takeover interest from roughly five parties including Amgen Inc and Pfizer Inc. according to people familiar with the matter, as the cancer-drug developer seeks to drum up demand in an acquisition that could be valued at more than $10 billion. Onyx and its advisers asked interested parties for initial offers by this past, though bids are expected to come in after that date too, according to the people. One person said bidders who put in offers that are high enough are expected to get access to Onyx's confidential information to help them formulate binding offers. It isn't clear if early interest will evolve into firm bids; expressing interest costs a company little and enables it to look at a rival's confidential information. Onyx late last month put itself up for sale after rejecting an unsolicited acquisition offer from Amgen that valued the Company at $120 a share, or some $8.7 billion based on the number of shares outstanding. 

Company Quote

47.35
-0.04 -0.08%
26 Nov 2014