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Amgen Inc. Message Board

  • trufflevaluehound trufflevaluehound Dec 8, 2011 9:56 AM Flag

    Tender Offer Results

    Well, the tender offer results are in this morning. AMGN is paying $60 per share (the maximum end of the range). Along those lines, it makes me wonder why the company did not set a narrower range. By setting a price range of $56 to $58 instead of $54 to $60 don't you think all the shareholders that tendered at $60 would have also tendered at $58? I think most of them would have, and AMGN could have saved themselves $166 million on the repurchase program. I wonder who it was that advised them to pay up to $60 for shares. The stock was trading at $55 and change prior to the repurchase announcement. I think they could have retired the full amount at $58 or below.

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