MSMB Capital Proposes Acquisition of Amag Pharmaceuticals for $18 Per Share

MSMB Capital Management today announced that it has made a proposal to the Board of Directors of Amag Pharmaceuticals Inc. AMAG to acquire all of the outstanding shares of common stock of Amag for $18 per share in cash or an aggregate of $378 million. This proposal represents an approximate 25% premium above the closing price of Amag stock of $14.39 on August 2, 2011. MSMB's offer is conditioned on completion of cursory due diligence and other customary provisions.