Amgen planning to acquire Immunex Corp in $18 billion deal?
It has been reported that Amgen is in advanced negotiations to acquirefellow US biotechnology firm Immunex Corp in a deal valued at around $18 billion. Reuters quotes sources claiming to be "close to the companies" as saying that Amgen would pay around $32 for each Immunex share, which closed on December 13 at $26.96.
Amgen is said to be offering to pay 15% of the deal value, about $2.7 billion, in cash and the remainder in shares, which represents a 31% premium on Immunex's closing price on December 12 of $24.45, which moved up on the following day as a result of the speculation.
American Home Products owns a 41% stake in Immunex, and the sources say that the company's board has agreed in principle to the deal which, if completed, would give it an 8% holding in the enlarged Amgen group.
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