The Financial Post provides specific quotes not just some general rumors. If these direct quotes were false/fabricated, AMGN would have issued a clear and strong denial. They have not done that. Instead they have responded with the typical statement that they do not comment on market rumors or speculation.
Hi, John. Yes, and among the quotes from the documents which the Financial Post writer has seen is one which says the terms of the offer are "negotiable". Suggests to me that this is just an opening offer. As I was saying in our chat the other day, this is a dangerous stock to be out of. Also, if this deal is consummated, all of the profits in my wife's account will be long term capital gains. In my account, where I inadvertently sold the stock (thought I was selling it out of the IRA temporarily, and quickly bought it back), it would be taxed as ordinary income. Drat. Hate these cash offers. Maybe they'll offer us AMGN stock. By the way, I think the company is worth more than $120 to an acquirer. Maybe Bayer will jump in.
If the AMGN offer is real, I also expect it to just be the opening offer.Bayer sat on their stupid butts for so long, and now will be forced to enter the game. If ONXX is to be bought, the offer has to be closer to $150 than to $120 to satisfy me.
Whoever at Bayer decided against buying ONXX in the past should be fired now. Don't get me wrong, as a long time ONXX shareholder I am very happy it didn't happen, but anyone could see ONXX was a great takeover target even two years ago. I along with several others posted that. I also expressed astonishment that Bayer didn't buy ONXX after Bayer agreed to cede 20% of the Stivarga revenues to ONXX.
Bear, just look what Millenium got for Velcade a few years ago. Onyx has a much more attractive and diverse oncology portfolio. The preliminary combo (Kyprolis+Revlimid+Dex) results for newly diagnosed MM patients are very compelling, which implies that front-line approval is coming. That should push the total valuation (Nexavar, Stivarga, Kyprolis) well-above $120/share.
Let's see what happens Monday. It is unlikely for the story to be a hoax because Amgen would have issued a statement denying the validity/authenticity of the quoted documents and text.
Finally, about your wife's account, it would be easier for us to simply accept that our wives are smarter than we are and that they will always do better, no matter what.