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Biotech / Medical : OSI Pharmaceuticals (OSIP) - formerly Oncogene
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To: DewDiligence_on_SI who wrote (351)2/6/2006 1:24:46 PM
From: tuck  Read Replies (1) of 447
 
>>11:32AM OSI Pharm announces two corporate governance changes (OSIP) 28.10 -0.27 : Co announces that its board of directors has adopted a policy, effective immediately, whereby the acquisition of any business with a purchase price in excess of 20% of the co's mkt capitalization at the time the co enters into a definitive agreement for the acquisition will be put to a vote of the co's stockholders, irrespective of the mix of cash, stock or other property comprising the purchase price. In addition, the co also announced that the board has determined to propose an amendment to the co's bylaws that will allow stockholders owning at least 20% of the co's shares to call a special meeting of stockholders upon 90 days written notice. The board intends to submit the proposed amendment to a vote of the co's stockholders at the annual meeting of stockholders which is scheduled to be held on June 14, 2006. <<

emphasis mine

A little late . . .

Cheers, Tuck
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