AnorMED Agrees to be Aquired by Millennium
Well, Anormed is back in the news and the suitor this time is Millennium.
AnorMED Press Release: September 26, 2006:
Seems they didn’t like the Genzyme offer but now have agreed to be acquired by Millennium for $12 per share or a 40% premium over what Genzyme was offering. It is also a 21% premium over the Anormed’s closing price on Sept 25.
This looks like a better option for Anormed shareholders but may be a little on the expensive side. In light of full disclosure, I do own a few shares of Millennium and think they may be paying a little too much for the acquisition.
I find it head spinning with the number of M&A activities in the past few months and unless something changes, I don’t see that changing through the rest of this year, especially in Europe.
For more, here’s the news results from Yahoo and Google.
• Yahoo! News Search Results for anormed millennium
• anormed millennium - Google News
Technorati Tags: Anormed, pharma M&A, pharmaceutical deals, Millenium
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October 4th, 2006 at 11:48 am
Here’s another good article about this acquisition: Millennium to Acquire AnorMED, Late-Stage Cancer Product for $515M