GSK Extends $2.6B Offer For Human Genome

Law360, New York (June 8, 2012, 12:05 PM EDT) -- GlaxoSmithKline PLC on Friday extended its $2.6 billion takeover offer for Human Genome Sciences Inc. through the end of June, after investors in the genetic-drug biotechnology company tendered less than 1 percent of outstanding shares.

Shareholders will now have until June 30 to accept GSK's $13 per-share offer, which the company's reluctant management again blasted as too low.

The tender offer is GSK's backup plan after Maryland-based Human Genome spurned its friendly advances in April. The British drugmaker's most recent per-share overture lured 474,029 shares out...
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