Astellas Pharma: Successfully Completed Tender Offer For OSI
June 08 2010 - 3:42AM
Dow Jones News
Astellas Pharma Inc. (4503.TO) said Tuesday it has successfully
completed its $4.0 billion tender offer for OSI Pharmaceuticals
Inc. (OSIP), receiving offers for 93% of the U.S. cancer
drug-developer's outstanding shares.
With over 90% of the shares offered, Astellas can complete the
takeover without a meeting of OSI's shareholders, through a process
known as a short-form merger.
OSI shares not tendered will be converted into rights to receive
$57.50 per share, the company said. That was the price Astellas
offered in its bid, which initially started as a hostile takeover
attempt on March 2.
-By Kazuhiro Shimamura, Dow Jones Newswires; 813-6269-2790;
kazuhiro.shimamura@dowjones.com
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