This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

23 Jul 2012

GSK Reaches Acquisition Deal with HGS

GSK and HGS have entered into a definitive agreement under which the pharmaceutical giant will acquire the US biotech outfit for around $3bn.

GlaxoSmithKline (GSK) is to acquire Human Genome Sciences (HGS) after the companies reached an agreement following months of hostilities.


GSK has improved its tender offer to $14.25 per share in cash, with an extended deadline of July 27th 2012.


This values HGS at around $3 billion net of cash and debt, with both companies' boards approving the transaction.


Sir Andrew Witty, GSK's chief executive officer, said he was pleased to have reached a "mutually beneficial" agreement with HGS.


"This is a natural next step i

Related News