GSK Bringing $2.6B Takeover Bid To Human Genome Investors

Law360, New York (May 9, 2012, 4:39 PM EDT) -- GlaxoSmithKline PLC will sidestep a requested review from takeover target Human Genome Science Inc. and instead put its unsolicited $2.59 billion bid directly up to a Human Genome shareholder vote, GSK said Wednesday.

Maryland-based Human Genome, maker of gene-targeting drugs, rejected the pharmaceutical giant's $13 per-share cash offer last month for being too low, but invited it to take part in a strategic review process. GSK said it didn't believe an extended review period was necessary or that its bid was too low, and that it...
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