(Updates with stock price information and companies declining to
comment.)
Amylin Pharmaceuticals Inc. (AMLN) has rejected an unsolicited
$3.5 billion offer from Bristol-Myers Squibb Co. (BMY), made
earlier this year, Bloomberg News reported Wednesday, citing two
people with knowledge of the matter.
Bristol-Myers had offered $22 a share for the drug maker, but
Amylin's board last month turned down the proposal. Amylin stock
closed Tuesday at $15.39, and recently traded at $21.50, up $6.11
or 40%.
The people said Bristol-Myers hasn't approached Amylin since
then, and said Amylin is talking with several companies about a
marketing partnership.
Spokeswomen for the two companies declined comment to
Bloomberg.
Bristol-Myers recently traded at $33.71, up 4 cents.
San Diego-based Amylin provides treatments for diabetes and
other metabolic disorders.
Full story at:
www.bloomberg.com/news/2012-03-28/mylin-said-to-have-spurned-3-5-billion-bristol-myers-bid.html
-Dow Jones Newswires; 212-416-2900