Amgen Launches $5B Stock Buyback, Senior Notes Offering

Law360, New York (November 7, 2011, 4:08 PM EST) -- Amgen Inc. will buy back up to $5 billion of its common stock through a modified Dutch auction tender offer and hold a public offering of its senior notes to help fund the tender offer, the biotech company said Monday.

The company said it will offer to buy the shares at $54 to $60 apiece and that the offer is expected to begin Tuesday and end at midnight Dec. 7. It is part of a $10 billion stock repurchase program announced Oct. 24.

“This tender offer...
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