Astellas Wins Look At OSI's Books Amid $3.5B Bid

Law360, New York (March 30, 2010, 12:48 PM EDT) -- OSI Pharmaceuticals Inc. has agreed to allow Astellas Pharma Inc. to take a limited peek at its books in exchange for the Japanese pharmaceutical giant's promise to temporarily hold off on pushing forward with its $3.5 billion hostile takeover bid.

Astellas confirmed Monday that it had entered into a confidentiality agreement under which OSI would provide it with access to certain nonpublic information, a move that comes after OSI's board unanimously recommended that OSI shareholders reject Astellas' offer and instructed management to look for deals with...
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