Amgen rating suspended at JPMorgan as it acts as adviser to Horizon Therapeutics

Amgen's (NASDAQ:AMGN) rating was suspended at JPMorgan as the bank is acting as a financial adviser to Horizon Therapeutics (NASDAQ:HZNP) in a potential sale.
JPMorgan suspended its rating on Thursday after Horizon Therapeutics confirmed on Tuesday that it's engaged in preliminary talks with Amgen (AMGN), Johnsons & Johnson's (JNJ) Janssen Global Services (JNJ) and Sanofi (SNY) on potential takeover offers for the company.
There is no certainty that an offer for the Dublin-based company will be made, Horizon (HZNP) said on Tuesday. Under Irish law, each of the possible acquirers has until 5 p.m. New York Time on Jan. 10 to either make an offer or decide to not submit a bid.
Morgan Stanley and Bank of America are also restricted on covering Amgen (AMGN) as of Thursday, according to Bloomberg data. JPMorgan also suspended its rating on Horizon (HZNP) and BofA and Morgan Stanley also went restricted on HZNP.
Horizon surged 27% on Wednesday after reports of the takeover talks and as analysts opined on potential takeover price.