Glaxo (GSK) Extends $13/Share Tender for Human Genome (HGSI)
Tweet Send to a FriendGet Alerts GSK Hot Sheet
Up)
Trade GSK Now!
GlaxoSmithKline plc (NYSE: GSK) today confirmed that it has received a renewed invitation from Human Genome Sciences’ (Nasdaq: HGSI) to participate in its strategic alternatives review process which started in April. GSK also notes the newly announced date of 16 July 2012 for submission of definitive acquisition proposals.
GSK continues to believe that participation in the process is unnecessary given the company’s offer is not conditioned on due diligence or financing and can be completed expeditiously. GSK knows HGS well based on a 20-year relationship and is uniquely positioned to deliver on the opportunity of the combination. GSK has therefore today sent a letter to HGS declining again to participate in this process.
GSK’s offer to acquire all of the outstanding shares of HGS for US$13.00 per share in cash represents a premium of 81 percent to HGS’s closing share price of US$7.17 on 18 April 2012, the last trading day before HGS publicly disclosed GSK’s private offer.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
GSK continues to believe that participation in the process is unnecessary given the company’s offer is not conditioned on due diligence or financing and can be completed expeditiously. GSK knows HGS well based on a 20-year relationship and is uniquely positioned to deliver on the opportunity of the combination. GSK has therefore today sent a letter to HGS declining again to participate in this process.
GSK’s offer to acquire all of the outstanding shares of HGS for US$13.00 per share in cash represents a premium of 81 percent to HGS’s closing share price of US$7.17 on 18 April 2012, the last trading day before HGS publicly disclosed GSK’s private offer.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- UPDATE: Viropharma, Inc. (VPHM) Said to Attract Acquisition Interest - Reuters
- Microsoft (MSFT) Broke Off Talks W/ Nokia (NOK), Was Interested in Device Unit - DJ
- GlaxoSmithKline (GSK) Receives Bid for Thrombosis Brands, NDB Site
Create E-mail Alert Related Categories
Corporate News, Mergers and Acquisitions
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
