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ONYX Pharmaceuticals, Inc. Message Board

  • johnpapas893 johnpapas893 Aug 17, 2013 10:42 AM Flag

    Genzyme-Sanofi deal

    1. Genzyme's price was $49.86 when on July 2, 2010 Bloomberg reported Sanofi's interest.
    2. On Aug. 29 Sanofi made a bid of $69--a 38.4% premium.
    3. On Oct. 4 Sanofi went hostile at the same price.
    4. In February 16, 2011 Sanofi bought Genzyme for $74 (a 48.4% premium over the July 2 price) plus a CVR of up to $14/share depending on the performance iof Genzyme's experimental MS drug Lemtrada and production levels of two other productrs.

    On June 28, Onyx's price was $86.82. Amgen reportedly offered $120--a 38.2% premium, almost exactly the same as that offered initially by Sanofi. If you apply Sanofi's final premium of 48.8% to Onyx's June 28 price, you get 128.84--pretty close to Amgen's rumored $130 sweetened price. The only thing that is missing is a CVR.

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