Bernstein Believes Onyx Pharma Bid Would Need to be in $140-150/Share Range to Sufficiently Entice Management
July 01, 2013 at 12:38 PM EDT
Bernstein analyst Geoffrey Porges believes Onyx Pharma's (NASDAQ: ONXX ) rejected $120/share offer from Amgen (NASDAQ: AMGN ) suggests a $140-150 range will be necessary to begin "to be viable for management, the board, and investors." Amgen would be able to afford this higher price point according to Porges,
