Human Genome Sciences (HGSI) Unanimously Rejects GlaxoSmithKline (GSK) Offer
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Human Genome Sciences, Inc. (Nasdaq: HGSI) said its Board unanimously determined that the unsolicited tender offer from GlaxoSmithKline (NYSE: GSK) to acquire all outstanding common shares of HGS for $13.00 per share in cash is inadequate.
The company also announced the adoption of a Stockholder Rights Plan and declared a dividend of one share purchase right for each share of HGS's common stock held of record at the close of business on May 29, 2012.
The company also announced the adoption of a Stockholder Rights Plan and declared a dividend of one share purchase right for each share of HGS's common stock held of record at the close of business on May 29, 2012.
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