logo
Share SHARE
FONT-SIZE Plus   Neg

GSK Sets Time Of Tender Offer To Buy Human Genome Sciences To July 20

GlaxoSmithKline Plx (GSK, GSK.L) Friday announced that it has set the time of its tender offer to acquire all of the outstanding shares of Human Genome Sciences (HGSI) at a price of $13.00 per share in cash till 5.00 p.m New York City time on July 20, 2012.

The company stated that the tender offer is due to expire after 16th July 2012, the deadline set by HGS for submission of definitive acquisition proposals in its strategic alternatives review process which began on 19 April after GSK made a private proposal on 11 April.

GSK stated that the time for the expiry of the tender offer till July 20 will provide HGS shareholders the opportunity to evaluate the outcome of the HGS Board's process relative to GSK's offer.

GSK's offer, which is not conditioned on due diligence or financing, represents a premium of 81 percent to HGS's closing share price of US$7.17 on 18 April, the last trading day before HGS publicly disclosed GSK's private offer.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
The month of May saw the FDA greenlight 5 new drugs, including 1 new molecular entity, and surprisingly turn down 1 drug candidate, whose approval was considered a no-brainer by some experts. Lab equipment maker Thermo Fisher Scientific Inc. has agreed to acquire electron microscope maker FEI Co. for about $4.2 billion in cash, the two companies said Friday. Thermo Fisher noted that FEI's electron microscopy platform will complement its own mass spectrometry systems to accelerate advancements in structural biology. While reporting a wider loss for the first quarter, Sears Holdings Corp. said it has decided to "aggressively evaluate" all potential alternatives for its top brands - Kenmore, Craftsman and DieHard or KCD, and the Sears Home Services or SHS businesses. Sears has retained Citigroup Global Markets and LionTree Advisors to assist in its efforts.
comments powered by Disqus
Follow RTT