NEW YORK, Aug 7 (Reuters) - Onyx Pharmaceuticals Inc isclose to selling itself to larger rival Amgen Inc after thecancer drugmaker's high stock price discouraged other companiesfrom making a counter offer, according to three people familiarwith the matter.
Amgen, the world's largest biotechnology company,is in advanced discussions to buy Onyx, with the twosides possibly making an possible announcement as soon as withinthe next week, the sources said on Wednesday.
Terms of an agreement have yet to be finalized, but thecompanies are negotiating a price of $130 per share, or nearly$9.5 billion, based on shares outstanding. Onyx has indicated itwould likely accept a deal at that price, the sources said.
Discussions could still fall apart, and there was noguarantee an agreement will be reached, according to thesources, who asked not to be identified because the matter isconfidential.
Representatives of Amgen and Onyx declined to comment.
Astrazeneca (AZN)
Barclays (BARC)
