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Onyx confirms, rejects Amgen’s $120-per-share bid

July 1, 2013
The Associated Press

SOUTH SAN FRANCISCO,Calif. - Onyx Pharmaceuticals Inc. on Sunday confirmed that it received an unsolicited takeover bid from Amgen Inc. for $120 per share. But the drug developer says it rejected the offer, because it "significantly undervalued" the company. Onyx also said that other companies have expressed interest in a buyout, and that its board authorized its financial adviser, Centerview Partners, to contact potential suitors.



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