Abgenix Shareholders Sue to Stop Amgen Deal

Abgenix Inc. said it had been sued by shareholders who consider the biopharmaceutical company’s agreement to be acquired by larger rival Amgen Inc. “inadequate.”

Abgenix, of Fremont, Calif., agreed last week to be acquired by Amgen, a biotechnology company based in Thousand Oaks, for $22.50 a share, or $2.2 billion.