AMAG Pharma shareholders shoot down Allos buyout

After many criticisms of its plans, AMAG Pharmaceuticals ($AMAG) failed to get shareholder support today in their vote on the company's proposed buyout of Allos Therapeutics in a deal valued at $184.8 million. Lexington, MA-based Amag, which makes the anemia treatment Feraheme, wanted to gobble up Allos for its lymphoma drug Folotyn. Today's vote appears to be a victory for activist investor MSMB Capital Management, which sought to block Amag's purchase of Allos with an offer buy Amag for $378 million. Article