Deals
Onyx Jumps After Report Amgen Considers Acquisition Offer
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Onyx Pharmaceuticals Inc., the maker of the cancer drug Nexavar, jumped as high as 28 percent in extended trading after a report that Amgen Inc. may offer to buy the company.
Onyx reached $111.04 at 7:45 p.m. New York time yesterday after the Financial Post reported that documents show Amgen, the world’s largest biotechnology company by sales, is considering a bid of $120 a share for the South San Francisco, California-based company. Onyx earlier gained 1.9 percent to close at $86.82 for a market capitalization of $6.3 billion. The shares have increased 36 percent in the past 12 months.