BUYOUT ONXX SOLD to AMGEN check on washpost bloomberg 100% BULL
Onyx is prepared to accept a $130-a-share all-cash offer and Amgen remains interested, the people said. At issue is whether Onyx will provide Amgen with data from a study designed for European approval of Onyx’s blood-cancer treatment Kyprolis, said two of the people, who asked not to be named because the discussions are private. Onyx doesn’t have access to the data as the trial is ongoing and doesn’t want to obtain results before the study is done as it may slow the approval process, one of the people said.
If the two companies can get past the issue, the $9.5 billion deal could be done quickly, the people said. The share price would be a 50 percent premium over $86.82, where South San Francisco, California-based Onyx’s stock traded before news of Amgen’s first offer became public in late June.
Data from the drug trial are expected to be released in the first half of next year, Onyx has said. Amgen, the world’s biggest biotechnology company by sales, wants more data to help it value Kyprolis, one of the people said.