TOKYO, May 17 /PRNewswire/ -- Astellas Pharma Inc. (TSE:
4503) announced today that it had extended its all-cash tender
offer for $57.50 per share for all of
the currently outstanding shares of common stock (including the
associated stock purchase rights) of OSI Pharmaceuticals, Inc.
(Nasdaq: OSIP) to 12:00 midnight New York
City time on Wednesday, June 2,
2010, unless further extended. The tender offer was
previously set to expire at 5:00 p.m.
New York City time on Monday May 17, 2010. In connection with the
execution of a Merger Agreement with OSI Pharmaceuticals, Inc. on
Sunday, May 16, 2010, Astellas
increased the price it was offering to acquire all shares of common
stock (including the associated stock purchase rights) of OSI
Pharmaceuticals, Inc. from $52.00 to
$57.50 per share.
As of 4:00 p.m. New York City time on Friday, May 14, 2010, 229,214 shares of OSI had
been tendered in and not withdrawn from the tender offer.
Citigroup is acting as exclusive financial advisor to Astellas
and Morrison & Foerster LLP is acting as legal counsel.
Additional Information
Further details related to this proposal can be found on
www.oncologyleader.com
About Astellas
Astellas Pharma Inc., located in Tokyo, Japan, is a pharmaceutical company
dedicated to improving the health of people around the world
through the provision of innovative and reliable pharmaceuticals.
Astellas has approximately 15,000 employees worldwide. The
organization is committed to becoming a global category leader in
urology, immunology & infectious diseases, neuroscience, DM
complications & metabolic diseases and oncology. For more
information on Astellas Pharma Inc., please visit our website at
http://www.astellas.com/en.
Important additional information
This press release is for informational purposes only and does
not constitute an offer to purchase or a solicitation of an offer
to sell OSI's common stock. The tender offer ("Tender Offer") is
being made pursuant to a tender offer statement on Schedule TO
(including the offer to purchase, letter of transmittal and other
related tender offer materials) initially filed by Astellas Pharma
Inc. ("Astellas") with the Securities and Exchange Commission (the
"SEC") on March 2, 2010. These
materials, as they may be amended from time to time, contain
important information, including the terms and conditions of the
offer, that should be read carefully before any decision is made
with respect to the Tender Offer. Investors and shareholders can
obtain a free copy of these materials and other documents filed by
Astellas with the SEC at the website maintained by the SEC at
www.sec.gov. The Tender Offer materials may also be obtained for
free by contacting the information agent for the tender offer,
Georgeson Inc. at (212) 440-9800.
OSI Pharmaceuticals' ("OSI") stockholders should read the
company's solicitation/recommendation statement on schedule 14D-9,
which was initially filed with the SEC on March 15, 2010, and any amendments or supplements
thereto. The company's solicitation/recommendation statement will
set forth the reasons for the recommendation of the OSI's board and
related information. The solicitation/recommendation statement and
other public filings made from time to time by OSI with the SEC are
available without charge from the SEC's website at www.sec.gov, at
OSI's website at www.osip.com or from OSI's information agent, by
calling 800-322-2885 toll free or (212) 929-5500 or by emailing
osipharma@mackenziepartners.com.
Statement of Cautionary Factors
This document contains certain forward-looking statements. These
forward-looking statements may be identified by words such as
'believes', 'expects', 'anticipates', 'projects', 'intends',
'should', 'seeks', 'estimates', 'future' or similar expressions or
by discussion of, among other things, strategy, goals, plans or
intentions. Various factors may cause actual results to differ
materially in the future from those reflected in forward-looking
statements contained in this document, among others: (1) pricing
and product initiatives of competitors; (2) legislative and
regulatory developments and economic conditions; (3) delay or
inability in obtaining regulatory approvals or bringing products to
market; (4) fluctuations in currency exchange rates and general
financial market conditions; (5) uncertainties in the discovery,
development or marketing of new products or new uses of existing
products, including without limitation negative results of clinical
trials or research projects, unexpected side-effects of pipeline or
marketed products; (6) increased government pricing pressures; (7)
interruptions in production; (8) loss of or inability to obtain
adequate protection for intellectual property rights; (9)
litigation; (10) loss of key executives or other employees; and
(11) adverse publicity and news coverage. The statement regarding
earnings growth is not a profit forecast and should not be
interpreted to mean that Astellas' earnings or earnings per share
for any current or future period will necessarily match or exceed
the historical published earnings or earnings per share of
Astellas.
SOURCE Astellas Pharma Inc.