Investor Objections Can't Halt Amgen's $1.2B Micromet Buy

By Lance Duroni (March 1, 2012, 2:44 PM EST) -- A Delaware judge refused to block Amgen Inc.'s $1.16 billion purchase of cancer drug specialist Micromet Inc. on Wednesday, rejecting claims in a class action that the offer was deceptive and shortchanged Micromet investors.

In February, several Micromet shareholders sued in Delaware Chancery Court, alleging the company's board jumped on the $11 per share deal without properly seeking a better offer and failed to disclose material aspects of the merger and potential conflicts involving Micromet's financial adviser, Goldman Sachs & Co.

In a 32-page opinion, Vice Chancellor Donald F. Parsons said the sale process was reasonable and that shareholders had received...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!