Biogen Idec Launches $356M Tender Offer For Facet

Law360, New York (September 21, 2009, 3:48 PM EDT) -- Biotechnology company Biogen Idec Inc. commenced a tender offer Monday for all shares of Facet Biotech Corp., in a deal potentially worth $356 million.

In the proposal, Biogen Idec is offering Facet stockholders $14.50 per share in cash, and the offer requires a majority of outstanding shares to be sold to Biogen Idec.

“We believe this proposed transaction makes compelling business sense for both Facet Biotech and Biogen Idec, and is in the best interests of our respective stockholders,” said James C. Mullen, president and CEO...
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