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    Home /  About /  News And Events /  Client Highlights
    Client Highlights

    Amgen Completes $10 Billion of Share Repurchases

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    March 8, 2018
    S&C client Amgen Inc. announced the final results of its modified Dutch auction tender offer. Amgen accepted for purchase 52,083,333 shares at a purchase price of $192 per share for a total cost of approximately $10 billion, excluding fees and expenses related to the tender offer.

     As a result of the Tax Cuts and Jobs Act’s deemed repatriation tax, Amgen gained immediate, global access to its entire $41.7 billion balance of cash, cash equivalents and marketable securities, which were used to fund the offer and thereby return capital to shareholders. The S&C team on the transaction was led by Frank Aquila and Matthew Hurd. Catherine Clarkin and Jared Fishman advised on securities matters, along with James Simpson and Jennifer Lee. Jeffrey Hochberg and Eric Wang advised on tax matters, along with Saul Brander and Lauren Citrome.
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    Francis J. Aquila Headshot Photo
    Francis J. Aquila
    New York
    +1-212-558-4048
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    Saul Brander Headshot Photo
    Saul Brander
    New York
    +1-212-558-4000
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    Catherine M. Clarkin Headshot Photo
    Catherine M. Clarkin
    New York
    +1-212-558-4175
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    Jeffrey D. Hochberg Headshot Photo
    Jeffrey D. Hochberg
    New York
    +1-212-558-3266
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    Matthew G. Hurd Headshot Photo
    Matthew G. Hurd
    New York
    +1-212-558-4000
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    S. Eric Wang Headshot Photo
    S. Eric Wang
    New York
    +1-212-558-3328
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