Amylin CEO remained quiet after Bloomberg reported a bid for 22$/share in April,2012.
Even Ichan-a big shareholder/Director could not get CEO to divulge if the bid by BMY was true? So Ichan decided to sue Amylin--and asked him to hire Financial advisors to SELL the Co.
Finally CEO and Ichan settled out of court--after CEO agreed to hire Goldman Sachs and Openheimer in May.
Goldman Sachs tried to move the bid from 22 to 35$. But it got stuck at 28$/share after second round of bidding. Finally Goldman found Astra Zeneca-who agreed to share the deal with BMY and each paid 3.5bil.$-for a total of 7 bil.$.BMY has the rights in USA--and AZN for outside USA. In April,Bloomberg asked AZN-Director of Business Develop.--Will you buy Amylin or Amarin--after he said--AZN is focussing on Cancer(Ardea purchase),Diabeties,and Gastrointestinal medicines(as Nexium patents expire in 2014.). The Director of Bus.Develop. did not reply--but did buy Amylin after GS pursuation. I asked this Director--about Amarin buy 2 months ago.He said--we have spent 5 bil.$ already for Ardea and Amylin. Let's see if new CEO--who has stopped buyback of AZN shares thus saving 2 bil.$ in cash--is willing to buy Amarin.
My guess--based on 2 competent sources(whose guesses are better than mine)--is that GSK and Pfizer are interested--whether they will pay 30$/share-- could derail the buyout. GSK is comfortable with under 25$/share.
We will find out by Nov.16th.