BMRN - Biomarin Pharmaceutical Inc. Message Board

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Biotech / Medical : BMRN - Biomarin Pharmaceutical Inc.

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From: jeeee4	3/25/2010 11:56:24 AM
	of 18

Bona fide offer for BMRN? Director quits over it NEW YORK (Dow Jones)-- BioMarin Pharmaceutical Inc . (BMRN) shares rose to a 52-week high Thursday after a board member's resignation sparked talk that the biopharmaceutical company may have received a takeover offer. In a regulatory filing posted after the bell Wednesday, the company said the board member, Joseph Klein III, wrote in his resignation letter that Chief Executive Jean-Jacques Bienaim received a "bona fide offer" fr6om a third party, and failed to share this offer with the board for consideration. Despite the company's denials that it received such an offer, BioMarin shares were up 6.6% to $24.52 in recent trading as investors appeared to be speculating that the company has received some form of an offer. The stock earlier rose as high as $24.98, a level it hasn't traded above since October 2008.

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