GlaxoSmithKline plc (GSK, GSK.L) said it has amended the conditions of its tender offer to buy all of the outstanding shares of Human Genome Sciences (HGSI) for $13.00 per share in cash to address the HGS Board of Directors' adoption of a shareholder rights plan.
As Human Genome Sciences has adopted a poison pill, GSK has added a condition to its offer requiring HGS to redeem the pill or, alternatively, GSK being satisfied in its reasonable judgment that the pill has been invalidated or is otherwise inapplicable to GSK's acquisition of HGS. The tender offer and withdrawal rights are still scheduled to expire at 12:00 midnight New York City time on June 7.
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