AMGEN: To Buy Horizon Therapeutics?

By Staff Reporters


Pharma Giant Amgen Sends Its Estimated $350 Million U.S. Media Business to  Hearts & Science


(Bloomberg) — Amgen Inc. has agreed to buy Horizon Therapeutics Plc at a valuation of about $26 billion in what would be its biggest-ever acquisition, according to a person familiar with the matter. The US biotechnology giant offered around $116.5 for each Horizon share, said the person, who asked not to be identified as the information is private. The offer price is at a around 20% premium to Horizon’s closing price of $97.29 on Friday.


Horizon rose as much as 15% to $111.70 in pre-market trading today while Amgen slipped 0.5%. But, the deal or announcement could be delayed and talks could still fall apart.

As of Friday’s close, Horizon shares had surged 24% since the company revealed on Nov. 29th that Amgen, Sanofi SA and a Johnson & Johnson unit were in preliminary talks about a possible acquisition. That pushed its market value to $22 billion, prompting Sanofi to back out Sunday, as J&J did earlier this month. Amgen has a market value of about $149 billion after rising by 24% this year.



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