Looks like the fervor for an Onyx takeover above $140 per share may be dissipating as one suitor after another is rumored (neat how this always comes through back channels whispers from "company spokesman" to "analysts" to journalists articles). to be dropping out of the "bidding war."
Today's reports have Pfizer, AstraZeneca, BMS, and Gilead all supposedly expressing waning interest in Onyx at the inflated prices that have been bandied about by analysts in the immediate aftermach of Onyx turning down the $120 per hare bid of Amgen a couple of weeks ago. Has everyone sobered up after the long July 4th weekend? Maybe so, as the $140+ per share price ideas seem to be going away. See Fierce Biotech.
As posted yesterday, Onyx need at least one high roller in the game to keep the bidding going up. The stock is sinking back slowly below the $130 mark (current $127.37) as rumors swirl.
Posted by Bruce Lehr July 19th 2013.