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Corporate

Oct. 24, 2014

Hedge fund urges Amgen to consider breakup amid raft of corporate spinoffs

Third Point LLC suggested Thousand Oaks-based drug developer Amgen Inc. consider breaking itself up into two separate companies in its quarterly letter to investors earlier this week.


By Dominic Fracassa


Daily Journal Staff Writer


Third Point LLC, a hedge fund run by prominent activist investor Daniel S. Loeb, urged Thousand Oaks-based drug developer Amgen Inc. to consider breaking itself up into two separate companies in its quarterly letter to investors earlier this week.


While praising its "compelling mix" of established and emerging drugs, Third Point's letter suggested that Amgen would unlock shareholder...

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