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Amgen to buy Onyx for $5 per share more than initial bid
San Francisco Business Times

Amgen Inc. will buy Onyx Pharmaceuticals Inc. for $10.4 billion cash, or the equivalent of $125 per share — picking up $5 per share from Amgen’s initial bid. The deal, announced Sunday and expected to close in the fourth quarter, will bring three on-the-market cancer drugs into the world’s largest biotech company. But it also marks the end of one of the Bay Area’s biotech jewels just as South San Francisco-based Onyx (NASDAQ: ONXX) appeared to be leveraging its growing stature to reshape the regional biotech industry.