GSK's $3B Takeover Of Human Genome Survives 2 Challenges

Law360, New York (July 26, 2012, 6:13 PM EDT) -- Human Genome Sciences Inc. on Thursday beat back two shareholder challenges to its $3 billion takeover by GlaxoSmithKline PLC, securing rejections of motions seeking to delay the close of the tender offer, which expires Friday.

In a Delaware federal case, a judge rejected arguments that shareholders needed more time to digest GSK's recently sweetened offer for Human Genome and to understand why the Maryland-based biotech firm had reversed course after three months of playing hard to get. The two companies agreed on a $14.25-per-share offer July...
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