Onyx explores possible sale, rejects Amgen offer

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Onyx explores possible sale, rejects Amgen offer

By Ryan Vlastelica and Olivia Oran NEW YORK (Reuters) - Onyx Pharmaceuticals Inc said on Sunday it rejected a roughly $10 billion takeover offer from larger rival Amgen Inc as too low but is still considering a sale of the company. The company said the offer price by Amgen of $120 a share in cash, which represents a premium of about 38 percent to the company's Friday closing price, "significantly undervalued" its prospects. Onyx said in a statement it was "actively exploring" a merger partner, and that it had hired financial advisor Centerview Partners to contact potential buyers. ...

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