Bloomberg, Reuters inadvertantly stoking the runmor mill haphazardly and then no folllowup
Pfizer in then out then in again. Four competitive bids coming last week. (one that actually materialized would have been awesome.) Amgen lining up financing---We know these reporters could do a followup and the actual participants can't talk if they are in negotiations. but how about some followup or commentary from knowledgeable industry insiders. Is that too much to ask from the headline hacks
Sometimes sources are reliable and some times they are not.Bloomberg has a good reputation of finding/verifying sources(right 50-70%).Reuters sources have flipflopped on Onyx.
I believe that Amgen is very serious--could pay close to 145-150$/share.But this process of raising bid price takes tough negotiations.Centerway partners is good at it. Amgen CEO/Chairman has Morgan Stanley experience-so he understands the future price of Amgen with and without Onyx.His future depends on Amgen's stock performance.So expect an announcement in 3-4 weeks.
Bloomberg has been a reliable source...............also WSJ on occasion. Its a matter of something material happening such as a bidder dropping out or whatever. That's a reason why I only carry a small position. Couple weeks ago they announced Pfizer withdrawing and the stock dropped $3 in 2 minutes.