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CORRECTION - Human Genome Sciences Is Surging After Takeover Offer

4/19/2012 9:36 AM ET

The previous alert contains incorrect stock prices. A corrected version follows. We apologize for the error.

Human Genome Sciences (HGSI: Quote) announced Thursday morning that it has received an unsolicited proposal from GlaxoSmithKline (GSK: Quote) to acquire HGS for $13.00 per share in cash. The HGS Board of Directors has determined that the offer does not reflect the value inherent in HGS.

Human Genome Sciences has gapped open dramatically higher Thursday and is now up 7.15 at $14.32 on above average volume. The stock has surged to a 6-month high and has re-crossed both its 50 and 200-day moving averages.

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by RTT Staff Writer

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