Skadden, MoFo Help Secure $4B OSI, Astellas Deal

Law360, New York (May 17, 2010, 1:01 PM EDT) -- Ending a two-month battle over the purchase price, Japan-based Astellas Pharma Inc. has secured ownership of OSI Pharmaceuticals Inc. by upping its offer to about $4 billion.

The two companies announced Sunday that Astellas had bumped its offer for OSI up to $57.50 per share from the $52 a share it offered in March. The boards of directors of both companies have unanimously approved the all-cash deal.

“We believe today's announcement recognizes the significant value we have built for our stockholders while providing the merged companies...
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