Law Offices of Howard G. Smith Announces Investigation On Behalf of Shareholders of OSI Pharmaceuticals, Inc.
March 01 2010 - 11:58PM
Business Wire
Law Offices of Howard G. Smith announces that it is
investigating potential claims against the board of directors of
OSI Pharmaceuticals, Inc. (“OSI Pharmaceuticals” or the “Company”)
(Nasdaq:OSIP) related to an offer from Astellas Pharma Inc.
(“Astellas”) to acquire OSI Pharmaceuticals for $52.00 per share.
The all-cash offer is valued at approximately $3.5 billion in the
aggregate.
OSI Pharmaceuticals rejected a previous offer from Astellas to
purchase the Company for $52.00 per share. Astellas announced it
will commence a tender offer on March 2, 2010, to purchase all
outstanding common stock of OSI. The current offer represents a
premium of approximately 40% over the $37.02 per-share closing
price of OSI's common stock on February 26, 2010. The investigation
concerns possible breaches of fiduciary duty and other violations
of law related to consideration of the offer by the OSI
Pharmaceuticals board of directors.
If you own shares of OSI Pharmaceuticals, if you have
information or would like to learn more about these claims, or if
you wish to discuss these matters or have any questions concerning
this announcement or your rights or interests with respect to these
matters, please contact Howard G. Smith, Esquire, of Law Offices of
Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem,
Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at
(888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or
visit our website at http://www.howardsmithlaw.com.
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