OSI Pharmaceuticals, Inc. (NASDAQ: OSIP) (“OSI”) today confirmed that
Astellas Pharma Inc. (“Astellas”) has commenced an unsolicited tender
offer to acquire all outstanding common shares of OSI for $52.00 per
share in cash.
Consistent with its fiduciary duties and as required by applicable law,
the OSI Board of Directors will review the offer to determine the course
of action that it believes is in the best interests of the Company and
its stockholders. OSI stockholders are advised to take no action at this
time pending the review of the tender offer by the OSI Board of
The OSI Board of Directors, in consultation with its independent
financial and legal advisors, intends to advise stockholders of its
formal position regarding the offer in due course by making available to
stockholders and filing with the Securities and Exchange Commission a
solicitation/recommendation statement on Schedule 14D-9.