Biogen Angles For Facet With 2nd Hostile Bid

Law360, New York (December 4, 2009, 5:11 PM EST) -- Biogen Idec Inc. has made a “best and final” tender offer to purchase Facet Biotech Corp., upping its ante from $14.50 to $17.50 a share and urging Facet's stockholders to send a signal to their board by selling their stake in the company.

Biogen made its second offer to acquire all outstanding shares of Facet stock in a letter addressed to the company's stockholders from Biogen CEO James Mullen Thursday.

“Over the past three months we have had conversations with certain Facet stockholders which lead us...
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