MGI Pharma to consider strategic alternatives

By Lisa Kerner

Charlotte, N.C., Nov. 29 - The board of directors of MGI Pharma, Inc. authorized the company's management to evaluate possible strategic alternatives.

Lehman Brothers has been retained to assist in the process, according to a company news release.

MGI noted there can be no assurance that a strategic transaction will be pursued or consummated.

In addition, the Bloomington, Minn.-based biopharmaceutical company said it will not comment on "rumors and speculation" regarding the strategic alternatives review.

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