Pfizer Won't Be Placing Bid For Onyx Pharma (PFE)

Pfizer Won’t Be Placing Bid For Onyx Pharma (PFE)

RSS

Reuters reported today that Pfizer (PFE) will likely not be placing a bid for Onyx Pharma (ONXX), and that Amgen (AMGN) will likely be picked instead as the top bidder.Earlier this month, Amgen (AMGN) reportedly placed a bid at $120 per share for Onyx, whose board stated that the bid “significantly undervalued Onyx and its prospects, and was not in the best interest of Onyx or its shareholders”. Shareholders have since then pushed Onyx higher, expecting another larger pharma company like Pfizer would come in with a more attractive offer. But with Pfizer seemingly out of the game, Amgen is now in the lead to take over Onyx.

Pfizer shares drifted lower during Thursday’s session, shedding 0.67%. Year-to-date, the stock is up 10.69%.

The Bottom Line

Shares of Pfizer (PFE) currently yield 3.37% based on Thursday’s closing price of $28.49 and its annual payout of $0.96.

Pfizer (PFE) is recommended at this time, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

Free Updates

Join over 100,000 investors who get the latest news from Dividend.com.

Best Dividend Stocks

Looking for stocks that are poised for growth and pay solid dividends? Visit our list of the:

Best Dividend Stocks

Partner Center

Best CD Rates

Sitting on some extra cash and looking for the most current and profitable CD Rates?

Get The Best CD Rates

14 Day Free Trial

Earn more from your dividend portfolio within the next 14 days.

Sign Up Today