Amgen (AMGN) Still Interested in Onyx (ONXX) as Pfizer (PFE), Novartis (NVS) Circle
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Price: $273.01 -0.19%
Overall Analyst Rating:
NEUTRAL (= Flat)
Dividend Yield: 3.3%
EPS Growth %: -2.3%
Overall Analyst Rating:
NEUTRAL (= Flat)
Dividend Yield: 3.3%
EPS Growth %: -2.3%
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(Updated - July 22, 2013 12:33 PM EDT)
Onyx Pharmaceuticals, Inc. (Nasdaq: ONXX) ticked higher Monday following headlines that big names like Pfizer (NYSE: PFE), Novartis (NYSE: NVS), and AstraZeneca (NYSE: AZN) might all be mulling a bid for the company. Speculation follows a $120 per share offer made by Amgen Inc. (Nasdaq: AMGN) that Onyx disclosed on July 1st.
Bloomberg said that all three of the aforementioned suitors have entered confidentiality agreements and have tapped advisors ahead of first-round bidding.
Onyx management previously snubbed Amgen's bid and Amgen is waiting to hear back from Onyx before making another go.
Shares of Onyx have been trading above the $120 Amgen bid over the last few weeks on investors speculation that a stronger offer would come in for the company.
Onyx shares are up 2.8 percent Monday.
Bloomberg said that all three of the aforementioned suitors have entered confidentiality agreements and have tapped advisors ahead of first-round bidding.
Onyx management previously snubbed Amgen's bid and Amgen is waiting to hear back from Onyx before making another go.
Shares of Onyx have been trading above the $120 Amgen bid over the last few weeks on investors speculation that a stronger offer would come in for the company.
Onyx shares are up 2.8 percent Monday.
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