OSI Pharmaceuticals, Inc.
OSI Pharmaceuticals' Board of Directors Unanimously Rejects Astellas' Unsolicited Tender Offer
Published in Obesity and Diabetes Week, March 29th, 2010
OSI Pharmaceuticals, Inc. (NASDAQ: OSIP) announced that its Board of Directors, after careful review and consideration with the assistance of OSI's management and outside legal and financial advisors, has unanimously rejected the unsolicited, conditional tender offer from Astellas US Holding, Inc., a wholly-owned subsidiary of Astellas Pharma Inc., to acquire all outstanding shares of OSI common stock for $52.00 per share in cash. The OSI Board unanimously recommends that OSI stockholders reject the offer and not tender their shares into the offer. Robert A. Ingram, Chairman of the Board of Directors of OSI, commented, "After carefully analyzing and considering Astellas' offer, the Board...
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