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news.Astellas Pharma has acquired OSI Pharmaceuticals for $4bn. OSI is a biotechnology company primarily focused on the discovery, development and commercialisation of molecular targeted therapies addressing medical needs in oncology, diabetes and obesity.
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Astellas has completed the acquisition of OSI through a short-form merger without a meeting of OSI’s stockholders. In the merger, each outstanding share of OSI common stock not purchased in Astellas’ tender offer or otherwise owned by Astellas was converted into the right to receive the same $57.50 consideration that was provided in the tender offer, without interest, except shares for which appraisal rights are validly asserted.
After the acquisition OSI is now a wholly-owned subsidiary of Astellas US, a holding company owned by Astellas Pharma, and OSI’s common stock has ceased to be traded on the Nasdaq Global Select Market.
OSI is expected to augment Astellas’ existing franchises in urology and transplantation, expanding the product portfolio and pipeline of the combined company.
Masafumi Nogimori, president and CEO of Astellas, said: “This compelling transaction marks an important step forward for Astellas as the company works towards developing a world-class oncology platform and realising our goal of improving the health of people around the world.”