Reuters: Global Markets: Bristol-Myers offers $3.5 billion for Amylin-Bloomberg

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Bristol-Myers offers $3.5 billion for Amylin-Bloomberg Mar 28th 2012, 13:54 Wed Mar 28, 2012 9:54am EDT (Reuters) - Shares of Amylin Pharmaceuticals Inc (AMLN.O) rose as much as 51 percent on Wednesday after Bloomberg News reported the company rejected a $3.5 billion unsolicited takeover bid from Bristol-Myers Squibb Co (BMY.N). Bristol-Myers proposed an acquisition at $22 a share in a letter to Amylin, which the board turned down last month, according to Bloomberg, which cited two people with knowledge of the matter. Bloomberg said Bristol-Myers hasn't approached Amylin since the rejection. Amylin's shares rose 41 percent to $21.65 in hectic early trading on Nasdaq. Earlier in the session they rose to a year-high $23.26.

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