Eisai makes second foray into USA, bidding $3.9 billion for MGI Pharma
Japanese drugmaker Eisai is making a second acquisition in the USA this year, announcing a definitive agreement to buy MGI Pharma for $41.00 a share, in an all-cash transaction, valuing the US firm at around $3.9 billion. This is a premium of 38.7% to its closing price on November 28, when MGI revealed that it had hired consultants to advise on possible strategies for its future (Marketletter December 10).
Eisai, which acquired US biological therapeutics firm Morphotek for $325.0 million in March this year and also bought the rights to four oncology drugs from Ligand last year (Marketletters passim), says the merger is expected to closed during the first quarter of 2008.
Deal will help growth in US market and strengthen oncology franchise
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