Wednesday, October 22, 2014

Activist Investor Third Point Urges Amgen Split

Thousand Oaks-based biotech giant Amgen is a target of activist investor group Third Point, urging the company yesterday to split the company in two. Third Point, which says it is now one of Amgen's largest shareholders, told its investors that it would like Amgen to split its operations between its mature business and newer, faster growing operations--and also cut what it called a "bloated cost structure". Amgen said in a statement that it maintains an "active, engaged dialogue with all shareholders" and "welcomes constructive input" from all of its investors, including Third Point.

---