GSK Commences Tender Offer to Acquire Human Genome Sciences
GSK has commenced an unsolicited tender offer to acquire all of the outstanding common shares of Human Genome Sciences at a price of $13 per share.
GlaxoSmithKline (GSK) has confirmed that it has commenced a tender offer to acquire all outstanding shares of Human Genome Sciences (HGS) for $13 per share in cash.
This represents a premium of 81 per cent to HGS' closing share price of $7.17 on April 18th.
Unless extended, the tender offer and withdrawal rights will expire at midnight (EDT) on June 7th 2012.
GSK announced its intention to commence a tender offer earlier this week (May 9th), after deciding not to participate in HGS' strategic alternatives review process for a number of reasons.
In a statement, the pharmaceutical company said it was "the appro
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