On July 11, 2012 Bristol-Myers Squibb Company launched its tender offer to buy all outstanding shares of biotechnology company Amylin Pharmaceuticals Inc. Bristol-Myers said last month its offer, valid until August 7, 2012, would pay $31 per share for Amylin an estimated $5.3 billion. The total value of the transaction, which includes Amylin’s net debt and a contractual payment obligation to Eli Lilly & Company, together $1.7 billion, is approximately $7 billion. The boards of directors of Bristol-Myers Squibb and Amylin have unanimously approved the acquisition.
The acquisition of Amylin would add to Bristol-Myers portfolio of diabetes treatments with the addition of drugs Byetta and Bydureon. Amylin has a Market Cap of $5.1 Billion. Its 52 Week Range is 8.03 – 30.83.Pages: