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US: $10.4B pharma merger confirmed after months of speculation

By  |  August 26, 2013

Following months of reported rumors that biotechnology company Amgen was looing to acquire Onyx Pharmaceuticals, the two companies have confirmed plans of the transaction. Reports say the deal was made for about $10.4 billion $9.7 billion in cash, at $125 per share. The parties expect to close the deal by the year’s fourth quarter. This will be the second move by Amgen to acquire Onyx Pharma; Oynx turned down a previous offer made earlier this year for $120 a share, a deal Oynx said undervalued the company.

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