Amgen Bags Onyx For $10.4B After Quick Chase

Law360, New York (August 26, 2013, 12:52 AM ET) -- Onyx Pharmaceuticals Inc. bowed this weekend to suitor Amgen Inc., agreeing to be acquired for $125 per share, or $10.4 billion, six weeks after rejecting a lower offer and seeking other bids.

Amgen will launch a tender offer for San Francisco-based Onyx, which focuses on rare and hard-to-treat cancers. The merger will boost Amgen's fast-growing oncology portfolio and give Onyx the cash and marketing oomph for new drugs to treat blood and thyroid cancer.

"We believe that Amgen is ideally suited to realize the full potential...
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