Amgen says tender offer for Micromet on track

Global biotech leader Amgen (Nasdaq: AMGN) says that all conditions to the closing of the tender offer via a wholly owned subsidiary to acquire all outstanding shares of common stock of US/German biotech firm Micromet (Nasdaq: MITI) for $11.00 per share (or around $1.16 billion in total; The Pharma Letter January 27) in cash have been satisfied.

The Amgen announcement came just after a Delaware, USA, judge refused to delay the acquisition of Micromet, ruled that Micromet shareholders have not shown that the deal is unfair or that they are getting an inadequate price.

The depositary for the takeover offer has advised Amgen that, as of the expiration of the offer at 12:00 midnight, New York City time, at the end of March 1, around 80,025,097 million Micromet shares had been validly tendered and not withdrawn pursuant to the offer, representing about 83.95% of the outstanding shares, which Amgen as accepted for payment.