News
3 Jul 2012
HGS Rejects GSK Extension of Unsolicited Tender Offer
Human Genome Sciences has rejected GlaxoSmithKline's latest extension to its tender offer.
GlaxoSmithKline (GSK) has extended its tender offer to acquire all outstanding shares of Human Genome Sciences (HGS) until July 20th.
But HGS' board of directors has once again rejected the unsolicited offer, which has not been increased from its previous price of $13 per share in cash.
The new expiration date comes after the deadline of July 16th set by HGS for the submission of definitive acquisition proposals in its strategic alternatives review process.
GSK said that this should give HGS shareholders time to evaluate the outcome of this process, relative to GSK's own offer.
"Given its near 20-year relatio
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