Healthcare Industry News: S.A.
News Release - January 28, 2008
Eisai Completes Acquisition of MGI PHARMA
TOKYO--(HSMN NewsFeed)--Eisai Co., Ltd. (Tokyo, TSE 4523) (“Eisai”), a reS.A.ch-based human health care (hhc) company, today announced the successful completion of itS.A.quisition of MGI PHARMA, INC. (NAS.A.: MOGN ) (“MGI PHARMA”) for approximately $3.9 billion through a cash tender offer followed by a short-form merger of itS.A.quisition vehicle, Jaguar Acquisition Corp. (“Jaguar”), with and into MGI PHARMA. AS.A.result of thiS.A.quisition, MGI PHARMA becomeS.A.wholly-owned subsidiary of Eisai Corporation of North America.At the effective time of the merger, all outS.A.ding S.A.es of MGI PHARMA common stock not validly tendered and accepted for payment in the tender offer were converted into the right to receive US$41.00 per S.A.e in cash (the same price paid in the tender offer), without interest and subject to applicable withholding of taxes. ComputerS.A.e, acting as the paying agent for the merger, will mail to the remaining former S.A.eholders of MGI PHARMA materials neceS.A.y to exchange their former MGI PHARMA S.A.es for such payment. AS.A.result of the merger, MGI PHARMA S.A.es will be delisted and cease to trade on the NAS.A. National Market.
About Eisai Co., Ltd.
Eisai Co., Ltd. iS.A.reS.A.ch-based human health care (hhc) company that discovers, developS.A.d markets products throughout the world. Eisai focuses its efforts in three therapeutic areas: integrative neuroscience, including neurology and psychiatric medicines; gastrointestinal disorders; and integrative oncology, including oncotherapy and supportive-care treatments. Through a global network of reS.A.ch facilities, manufacturing siteS.A.d marketing affiliates, Eisai actively participates in all aspects of the worldwide healthcare system.
About Eisai Corporation of North America
Eisai Corporation of North America iS.A.wholly-owned subsidiary of Eisai Co., Ltd. and supports the activities of its operating companies in North America. These operating companies include: Eisai ReS.A.ch Institute of Boston, Inc., a discovery operation with strong organic chemistry capabilities; Morphotek, Inc., a biopharmaceutical company specializing in the development of therapeutic monoclonal antibodies; Eisai Medical ReS.A.ch Inc., a clinical development group; Eisai Inc., a commercial operation with manufacturing and marketing/sales functions; and Eisai Machinery U.S.A., which marketS.A.d maintains pharmaceutical manufacturing machinery.
Source: Eisai
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