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11 Jun 2012

GSK Extends Tender Offer for HGS

Human Genome Sciences has once again rejected GSK's unsolicited tender offer after the UK-based pharmaceutical group extended the deadline until June 29th.

GlaxoSmithKline (GSK) has extended the deadline for its hostile bid for Human Genome Sciences (HGS).


The UK-based pharmaceutical group is offering $13 per share in cash and has extended its tender offer to acquire all outstanding shares until 17:00 (New York City time) on Friday June 29th 2012.


Previously, the offer was scheduled to expire at midnight on June 7th.


GSK still believes the offer represents "full and fair value", as it corresponds to a premium of 81 per cent to HGS' closing share price of $7.17 on April 18th 2012.


The company said in a statement: "GSK continues to believe that now is the appropri

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