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InsideArbitrage Potential Deal: Horizon Therapeutics (HZNP) Confirms Preliminary Discussions Regarding Potential Offer

  • November 29, 2022


StockHorizon Therapeutics Public Limited CompanySymbolHZNP
Date Announced11/29/2022Source Press Release
TypeUnsolicited BidAcquiring Company/Person Amgen Inc.
Date of Confirmation: 12/12/2022Price at Confirmation: $112.36
Potential Profit: 12.04%Annualized Profit: 337.91%

The Board of Horizon Therapeutics plc (HZNP) confirms that it is engaged in highly preliminary discussions with Amgen (AMGN), Janssen Global Services, LLC and Sanofi (SNY) (each a Possible Offeror) which may or may not lead to an offer being made for the entire share capital of the company.


December 2, 2022: French drugmaker Sanofi (SNY) said that if it decides to bid for biotech company Horizon Therapeutics (HZNP) it would do so in cash.

December 3, 2022: Johnson & Johnson (JNJ) unit Janssen Global Services said that it does not intend to make an offer for biotech company Horizon Therapeutics Plc (HZNP).
December 11, 2022: Sanofi (SNY) announces it is no longer in discussions with Horizon and it does not intend to make an offer for Horizon (HZNP).
December 11, 2022: Amgen Inc. (AMGN) is in advanced talks to buy drug company Horizon Therapeutics PLC, (HZNP) according to people familiar with the matter, in a takeover likely to be valued at well over $20 billion and mark the largest healthcare merger of the year.

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