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AMGN Amgen Inc

278.16
0.79 (0.28%)
Pre Market
Last Updated: 13:32:36
Delayed by 15 minutes
Share Name Share Symbol Market Type
Amgen Inc NASDAQ:AMGN NASDAQ Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.79 0.28% 278.16 277.62 279.00 1,089 13:32:36

Amgen to Buy Danish Biotech Nuevolution for $167 Million

22/05/2019 11:59am

Dow Jones News


Amgen (NASDAQ:AMGN)
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By Colin Kellaher

 

Amgen Inc. (AMGN) on Wednesday said it plans to buy Danish biotechnology company Nuevolution AB (NUE.SK) for about $167 million in cash.

The Thousand Oaks, Calif., biotechnology company said it will offer 32.50 Swedish kroner in cash for each share of Nuevolution, a roughly 169% premium to Tuesday's closing price of SEK12.10.

Shares of Nuevolution surged to SEK32.20 on Wednesday.

Amgen said Nuevolution's board recommends the offer, adding that holders of about 59% of Nuevolution's shares have agreed to accept the deal. Amgen said the offer, which it will fund with cash on hand, will begin around June 13.

Amgen and Nuevolution formed a multi-target collaboration in October 2016, and Amgen has exercised its contractual opt-in right for two cancer programs under the agreement.

 

Write to Colin Kellaher at colin.kellaher@wsj.com

 

(END) Dow Jones Newswires

May 22, 2019 06:44 ET (10:44 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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