Eisai Surprise Winner in MGI Auction

Everyone knew that MGI Pharma was up for sale, but few expected mid-cap Japanese firm Eisai to emerge victorious. Eisai pushed its offer up to $41-per-share, all cash, even though there was only one other, non-definitive, offer on the table. The $3.3 billion deal nabs Eisai two records: the largest foreign acquisition by any Japanese pharma, and the year's largest specialty pharma purchase.