Astellas Pharma's proposed acquisition of OSI Pharmaceuticals: HSR waiting period expires

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Mar 19 2010

Astellas Pharma Inc. (TSE: 4503) today announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, applicable to Astellas' proposed acquisition of OSI Pharmaceuticals Inc. (Nasdaq: OSIP) has expired.

On March 2, 2010, Astellas commenced a tender offer to acquire all of the outstanding shares of OSI for $52.00 per share in cash. The expiration of the HSR waiting period satisfies one of the conditions of the tender offer. The tender offer is not subject to any financing conditions or due diligence and only contains customary conditions to close.

Citigroup is acting as exclusive financial advisor to Astellas and Morrison & Foerster LLP is acting as legal counsel.

SOURCE Astellas Pharma Inc.

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