Astellas extends offer period for OSI shares
This article was originally published in Scrip
Executive Summary
Astellas has extended its tender offer for OSI Pharmaceuticals to midnight New York City time on 2 June, giving a few more weeks for investors to offer their shares. The already extended all-cash tender was originally set to expire on 17 May. The Japanese firm yesterday announced a definitive agreement to acquire OSI for around $4 billion, after it raised its offer price from $52.00 to $57.50 per share (scripnews.com, 17 May 2010).