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 13.36 at $56.69 on above average volume. The stock has surged to a new high for the year.
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by RTT Staff Writer
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