Biogen (NASDAQ: BIIB) announced on 10/12/07 that its board of directors authorized management to evaluate whether third parties would have an interest in acquiring the company at a price and on terms that would represent a better value for stockholders. BIIB is recently up $3.06 to $77.05. BIIB December 90 calls are bid 50 cents. BIIB December 75 straddle is priced at $7.20, above a level of $5.55 from two hours ago. BIIB January option implied volatility of 53 is above its 26-week average of 36 according to Track Data, suggesting options traders expect movement.

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