Human Genome's Poison Pill Survives As GSK Eyes Coup

Law360, New York (May 31, 2012, 2:24 PM EDT) -- Biotech company Human Genome Sciences Inc. beat a legal challenge to the poison pill it is using to fend off a $2.6 billion hostile takeover by GlaxoSmithKline PLC on Thursday, even as reports came that GSK was planning to replace the board of its unwilling target.

A Maryland state judge denied a shareholder request to quash the hard-line defense, which the gene-targeting drugmaker adopted May 17 to keep GSK at bay. A putative class of Human Genome investors had sought a restraining order to kill the...
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