New York, July 01, 2013 -- Moody's Investors Service commented that the unsolicited bid from Amgen Inc. (Baa1 stable) that was reported by Onyx Pharmaceuticals, Inc. (unrated) is credit negative for Amgen because of the potential for higher leverage. However, a deal has not been reached and the financing sources of any such deal remain undetermined. Onyx reported that it rejected the bid, and that it will now consider proposals from other interested companies. Amgen is rated Baa1 with a stable rating outlook.
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