アステラス製薬株式会社（本社：東京、社長：野木森 雅郁、以下「アステラス製薬」）は、本日、米国CV Therapeutics社（本社：カリフォルニア州パロアルト）の取締役会に対して、同社が発行済みの全ての普通株式を1株あたり16ドルの現金を対価として取得する提案を行いましたので、お知らせします。本提案は2009年１月26日のCV Therapeutics社株式の終値に対して41％、直近60日間の終値の平均値に対して69％のプレミアムを加えた価格となり、発行済株式に対する総額は10億ドルとなります。
アステラス製薬は、CV Therapeutics社の取締役会に対して2008年11月14日付けで本提案を行いましたが、 11月21日付けで、CV Therapeutics社の取締役会より提案を拒否する旨の通知を受領しました。 また、その後CV Therapeutics社は、本件に関して当社との実質的な協議を拒んでいます。
アステラス製薬では、本提案はCV Therapeutics社が単独で実現しうる価値を大きく超える価値を現金によって即時にCV Therapeutics社の株主に提供する、極めて魅力的な提案であると考えています。また、強固な事業基盤と新薬の開発・販売における豊富な実績を有するアステラスグループに加わることで、CV Therapeutics社の価値を大きく向上させることができると考えています。それに加えて、狭心症治療薬RanexaをはじめとするCV Therapeutics社の製品ポートフォリオは、当社の米国での病院市場向け及び循環器領域のビジネスを補完することが期待されます。
アステラス製薬は、CV Therapeutics社の取締役会が本提案について再考の上、速やかに協議に応じることを決定した場合には、今後も引き続き、友好的な買収に向けてCV Therapeutics社と協議を行っていく考えです。
＜対象会社の概要＞
会社名： CV Therapeutics, Inc.（Nasdaq：CVTX）
代表者： Louis G. Lange, MD, PhD
所在地： 米国カリフォルニア州パロアルト
設立： 1990年
主な事業内容： 心疾患系医薬品の研究開発、販売
決算期： 12月
発行済株式数： 61,326,638株（2008年10月31日現在）
2007年度（2007年1月～12月）の業績：
売上高83百万ドル（2006年度：37百万ドル）
純損失181百万ドル（2006年度：274百万ドル）
添付資料は、米国時間の本日早朝にCV Therapeutics社の取締役会に宛てて送付されたレターの全文です。
以 上
January 27, 2009
CV Therapeutics, Inc.
The Board of Directors
c/o Dr. Louis G. Lange, Chairman of the Board & CEO
3172 Porter Drive
Palo Alto, CA 94303
Gentlemen:
I am writing to express our disappointment that you have rejected Astellas’ proposal of November 14, 2008, to acquire CV Therapeutics, Inc. for $16.00 per share in cash, and that you have subsequently refused numerous requests – made both directly and through our advisors since then, and as recently as January 13, 2009 – to engage in substantive discussions about a combination that would deliver substantial and immediate value to your stockholders.
We remain enthusiastic and committed to a transaction with CV Therapeutics, and we continue to believe our proposal provides your stockholders with significant immediate value that we believe far exceeds the value CV Therapeutics could reasonably expect to achieve as a standalone company in the foreseeable future.
We believe our proposal takes into full account the future potential of CV Therapeutics – with no execution risk to your stockholders. Our offer represents a 41% premium to CV Therapeutics’ share price as of January 26, 2009, and a 69% premium to its 60-day average price.
Astellas has built a productive partnership with CV Therapeutics around Lexiscan over several years, and we have watched and helped the company grow during this time. We are enthusiastic about Ranexa, but we believe it will be a significant challenge for CV Therapeutics to deliver the full value of Ranexa to your stockholders given CV Therapeutics’ limited commercial presence and the difficult macro environment. We believe Astellas is better positioned to maximize the value of CV Therapeutics, and Ranexa in particular, by leveraging Astellas’ infrastructure and marketing expertise.
I want to emphasize that our proposal is not subject to any financing condition, and we expect the transaction would receive regulatory approvals in a timely manner. While we have conducted a substantial amount of due diligence to date, our proposal remains subject to confirmatory due diligence, execution of definitive agreements and the satisfaction of customary conditions to be set forth in such agreements.
For over the past year we have attempted to discuss a possible acquisition transaction with CV Therapeutics that would maximize the value of CV Therapeutics for your stockholders. Our desire continues to be to work together with the CV Therapeutics Board of Directors to reach a mutually beneficial transaction but we have been very disappointed that you have refused to engage us in such discussions.
We remain prepared to meet immediately with you and your advisors to discuss our proposal. We believe that we could conclude our due diligence review and execute a definitive agreement in approximately three to four weeks. We have retained Lazard as our financial advisor and Morrison & Foerster as our legal advisor.
We are very enthusiastic about the prospects for a combination between CV Therapeutics and Astellas. We hope you will reconsider our proposal and we look forward to your prompt response.
Yours sincerely,
Masafumi Nogimori
President and CEO
