BioCentury
ARTICLE | Finance

Ebb & Flow

October 12, 2009 7:00 AM UTC

Facet Biotech Corp. (NASDAQ:FACT) executives seem confident that investors aren't going to take the bait on the $14.50 per share tender offer from Biogen Idec Inc. (NASDAQ:BIIB) - and they cite the company's stock price to bolster their case.

Last month, Biogen Idec began a hostile offer after Facet disclosed a new partnership with Trubion Pharmaceuticals Inc. (NASDAQ:TRBN), saying the deal "reduces the value of Facet."...