Facet Buyout Boost Disappoints (FACT, BIIB)

Posted in pre-market 
December 4th, 2009

Facet Biotech Corporation  (NASDAQ: FACT) closed at $17.23 yesterday.  Biogen Idec (NASDAQ: BIIB) has raised its offer to a final and best offer price of $17.50 per share.  The stock traded down 2.8% to $16.75 in the after-hours session on over 500,000 shares.  The entire average daily volume is only 430,000 shares.  Volume is tepid so far, but indications are $16.88 or so in the pre-market as of 8:08 AM EST.

JON OGG

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