BUYOUT OF ONYX - LAW FIRM SEEKS HIGHER PRICE FOR SHAREHOLDERS
August 25, 2013
New York, New York
Tripp Levy PLLC, a leading securities and shareholder rights law firm, announces that it has been retained by shareholder so ONYX Pharmaceuticals regarding the buyout of their shares. It is being reported that Amgen will purchase ONYX for only $125 per share.
The price of $125 is well below analysts' expectations of the long term true takeover value of the company of $160 per share and below the $136 price the stock hit earlier in July 2013. Should Amgen and ONYX enter into a merger agreement worth approx. $10 billion, as is being reported, there is a likelihood they will include a termination fee as high as $300 million (if not higher) to prevent any other bidders from coming forward.
Tripp Levy PLLC is representing shareholders of ONYX who feel the offer price of $125 is unfairly low. If you would like more information as to how you can join with these other shareholders, at no cost or expense, please contact us toll free at 1-877-772-3975 or email at contact @ tripplevy