GSK launches hostile $2.6 bn bid for Human Genome Sciences

British drugmaker GlaxoSmithKline on Wednesday said it had gone hostile over its $2.6 billion (2.0 billion-euro) takeover bid for US research partner Human Genome Sciences Inc.

GlaxoSmithKline, which in April had an informal offer rejected by the US company's board, said it had decided to put its bid directly to the shareholders of HGS. The offer remains $13 per share in cash.

" today announced that it will ... commence a tender offer this week to acquire all of the outstanding shares of HGS for $13.0 per share in cash," the British firm said.

"GSK's offer represents a premium of 81 percent to HGS's closing share price of $7.17 on 18th April, the last trading day before HGS publicly disclosed GSK's private offer."

add to favorites email to friend print save as pdf

Related Stories

GlaxoSmithKline says net profits drop 13% in Q1

Apr 25, 2012

British drugsmaker GlaxoSmithKline said Wednesday that its net profits dropped 13 percent to £1.325 billion (1.616 billion euros, $2.134 billion) in the first quarter from a year earlier.

Verizon to buy Terremark for $1.4 billion

Jan 28, 2011

(AP) -- Verizon Communications Inc. said Thursday it is buying Terremark Worldwide Inc., a provider of information technology services, for $1.4 billion in cash.

Recommended for you

A new tool in drug overdose prevention

5 hours ago

The Center for Disease Control reported earlier this month that the heroin overdose death rate across 28 states it surveyed doubled between 2010 and 2012. This sharp increase and the chilling statistics that say more than 11 ...

Nasal spray treats heroin overdose

Oct 28, 2014

"Every year, drug overdoses are responsible for roughly 1000 ambulance calls in Oslo," says Arne Skulberg, an anaesthesiologist, a PhD candidate at NTNU and the 2014 winner of Norway's Researcher Grand Prix ...

User comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.