Issue Date: February 2, 2009
Astellas Bids For CV Therapeutics
Astellas Pharma has made a hostile bid for CV Therapeutics, a Palo Alto, Calif.-based biotech that develops small-molecule drugs to treat cardiovascular diseases. The Japanese company says CV Therapeutics' board of directors rejected an all-cash offer made last November of $16.00 per share, valuing the company at $1 billion, and has since refused to engage in talks.
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