Eisai completes $3 billion-plus tender offer on MGI Pharma shares

TOKYO Eisai Co., a research-based human health care company, has announced the completion of the offer by subsidiary Jaguar Acquisition Corp. to purchase all outstanding shares of the common stock of MGI Pharma for $41 per share.

As of midnight EST on Friday, Jan. 25, the expiration date of the offering period, approximately 76.5 million MGI shares had been validly tendered into the offer, representing over 93.8 percent of the outstanding shares, for a total of approximately $3.1 billion.

As the final step of the acquisition process, Eisai intends to effect a short-form merger of Jaguar into MGI, in which any remaining shareholders—with the exception of those who have chosen to exercise dissenters’ rights—will also receive the $41 per share paid in the offer. Following the merger, MGI will become a wholly-owned subsidiary of subsidiary Eisai Corp. of North America and the MGI common stock will be delisted from the NASDAQ market.