Tuesday, October 01, 2013

Onyx Pharmaceuticals = Done Deal

Well that was quick… Amgen (Ticker: AMGN) closed its acquisition of Onyx Pharmaceuticals (Ticker: ONXX) today and the cash just hit my account. I generated a net gain of 8.10% (annualized return of 62.20%) over a 44 to 48 day period. This was not an easy arb play as Amgen played hard ball and was able to negotiate a lower price, but it’s nice to see this is finally done with…


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