Judge Refuses To Halt Amgen-Micromet Deal


Salon Staff
March 2, 2012 12:54AM (UTC)

DOVER, Del. (AP) — A Delaware judge has refused to delay the acquisition of Micromet Inc. by Amgen Inc., the world's largest biotech company.

A tender offer in which Amgen is offering $11 per share for Micromet, a Maryland-based developer of cancer therapies, was to expire at midnight Thursday.

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Some Micromet shareholders challenged the proposed deal, arguing at a hearing earlier this week that Micromet's board rushed it through and did not adequately explore whether it could get a competing offer at a better price.

But in a ruling filed late Wednesday, the judge said the shareholders were not entitled to a preliminary injunction because they had not shown a reasonable likelihood that they would succeed in proving their claims.


Salon Staff

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