Onyx (ONXX) Ticks Lower As Bayer May Target Warner Chilcott Instead
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Onyx Pharmaceuticals, Inc. (Nasdaq: ONXX) is trading a little lower in pre-open trading Friday following speculative reports that partner Bayer could target Warner Chilcott plc (Nasdaq: WCRX) in a takeover.
This could suggest to the market that Bayer will not buy Onyx, which has been rumored forever and re-ignited recently after Bayer said it is in the market for a big deal.
WCRX is up 11%, while ONXX is down 2%.
This could suggest to the market that Bayer will not buy Onyx, which has been rumored forever and re-ignited recently after Bayer said it is in the market for a big deal.
WCRX is up 11%, while ONXX is down 2%.
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