Icahn reports 6.54% ownership of Amylin Pharmaceuticals

By Angela McDaniels

Tacoma, Wash., May 22 - Amylin Pharmaceuticals, Inc. investors led by Icahn Partners Master Fund LP bought 447,996 shares of the company's stock for $29.16 to $30.88 each.

The investors also purchased call options exercisable for 1,927,768 Amylin shares. Each option cost $22.50, according to a schedule 13D filing with the Securities and Exchange Commission.

The shares and options were purchased between May 12 and May 22.

In total, the reporting persons beneficially own 8,959,919 shares, or 6.54%, of Amylin's common stock. The figure includes 2,172,270 shares underlying call options.

The investors said they acquired the shares in the belief that they were undervalued.

According to the filing, the reporting persons recently had discussions with Amylin management and plan to seek further conversations with management and the board of directors to discuss ideas to maximize product sales and development and to enhance shareholder value.

Amylin is a biopharmaceutical company based in San Diego.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.