GSK, Human Genome Escalate $2.6B Buyout Battle

Law360, New York (June 29, 2012, 2:20 PM EDT) -- GlaxoSmithKline PLC on Friday tried for the second time this month to entice Human Genome Sciences to agree to a $2.6 billion buyout, but the biopharmaceutical company rejected the unsolicited offer once again, calling it “inadequate.”

Pharmaceutical giant GSK, which has been courting HGS since April, extended its offer's expiration date for the second time Friday, when it was supposed to expire, giving the company until July 20 to accept the $13 per share deal for all of its outstanding shares.

“Extension of the tender offer...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.