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Amgen clinches $10.4B acquisition of Onyx

Aug 26, 2013 - The Deal Pipeline
Mergers and Acquisitions

After a tortuous courtship, including Onyx Pharmaceuticals Inc.'s rejection of an initial $120 per share bid from Amgen Inc. and a subsequent auction that may have had most of big pharma looking over the wares, the companies said Sunday they had clinched a deal at $125 per share, or $10.4 billion.

The total comes to $9.4 billion net of Onyx cash.

"We believe that Amgen is ideally suited to realize the full potential of Onyx's portfolio and pipeline for the benefit of physicians and p...