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18 Jun 2012

Human Genome Sciences Sets Bid Date of July 16th

Interested bidders have until July 16th to submit definitive proposals to acquire Human Genome Sciences.

US biotechnology company Human Genome Sciences (HGS) has set potential bidders a deadline of July 16th for definitive proposals to acquire the company.


The company is conducting a strategic alternative review process which hostile bidder GlaxoSmithKline (GSK) has so far declined to participate in.


Instead, GSK has launched a takeover bid and is offering to pay $13 per share in cash - a price HGS believes is inadequate.


The biotech outfit has repeatedly urged GSK to participate in the ongoing process alongside other interested bidders.


In a statement, the company said: "HGS is committed to completing its explo

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