Astellas Pharma Inc. (4503.TO) said Thursday it received enough offers of shares in U.S. cancer drug developer OSI Pharmaceuticals Inc. (OSIP) to complete its takeover of the company, a deal that could be worth up to $4.0 billion.

The Tokyo-based drug maker said the number of OSI shares offered by shareholders during the tender period through Wednesday was equivalent to 87% of the company's outstanding stocks, including those to be offered within three business days under the process known as guaranteed delivery.

The tender offer, which started as a hostile takeover attempt in early March, has been repeatedly extended as OSI sought bids higher than Astellas' initial offer of $52 a share.

Astellas and OSI agreed on the acquisition after the Japanese company raised the offer to $57.50 on May 17. OSI shares ended at $57.42 Wednesday on the Nasdaq Stock Market.

-By Kazuhiro Shimamura, Dow Jones Newswires; 813-6269-2790; kazuhiro.shimamura@dowjones.com
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