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The Boston Globe

Business

Drug maker Onyx explores sale after rebuffing Amgen

NEW YORK — Onyx Pharmaceuticals Inc. said Sunday that it is weighing a sale of itself, after having rejected an unsolicited $10 billion takeover bid by Amgen Inc. last week as too low.

The company said in a statement that Amgen had proposed paying $120 a share in cash, a 38 percent premium to Onyx’s closing price on Friday. The biopharmaceutical drug maker said it has hired the investment bank Centerview Partners to contact possible suitors.

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