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Saturday, Aug 24
NYT: Amgen close to buying Onyx for $125/share
- The paper adds a deal could be "announced as soon as Monday," but cautions "talks are ongoing and could still fall apart."
- The reported price would represent a 7% premium to Onyx's (ONXX) Friday close of $116.96.
- Amgen (AMGN) reportedly revised its bid from a prior $130/share after failing to obtain trial data related to Onyx's Kyprolis blood-cancer drug. The company is still paying a steep 10.5x 2014E sales.
- More on Amgen/Onyx
- Update: The WSJ also reports a $125/share deal is close. Its sources think a deal "is likely to be announced Monday, if not sooner."