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Tender Offer

Financial Term

A tender offer is a public offer to all of the stockholders of a company asking those stockholders to sell their stock to the party making the tender offer. Typically, a tender offer is commenced when the offeror places a summary advertisement in a major national newspaper, and the offer to purchase is printed and mailed to the target company's stockholders.

A tender offer must comply with the rules and regulations of the Securities and Exchange Commission (SEC), which are quite technical. Astellas' tender offer is conditioned amongst other matters, on our Board's withdrawal of our "poison pill" defense. As such, the tender offer will not proceed unless our Board withdraws this defense or Astellas determines to waive this condition.

   
     

Tender Offer

Financial Term

A tender offer is a public offer to all of the stockholders of a company asking those stockholders to sell their stock to the party making the tender offer. Typically, a tender offer is commenced when the offeror places a summary advertisement in a major national newspaper, and the offer to purchase is printed and mailed to the target company's stockholders.

A tender offer must comply with the rules and regulations of the Securities and Exchange Commission (SEC), which are quite technical. Astellas' tender offer is conditioned amongst other matters, on our Board's withdrawal of our "poison pill" defense. As such, the tender offer will not proceed unless our Board withdraws this defense or Astellas determines to waive this condition.

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