Biotech Values

[DewDiligence]

GSK goes hostile with tender offer for HGSI:

http://online.wsj.com/article/SB10001424052702304070304577393451718998534.html

Human Genome Sciences, based in Rockville, Md., last month rejected Glaxo's $13-a-share offer as too low, and said it had hired two banks to advise it on "strategic alternatives," including a possible sale of the company.

In a statement Wednesday, Glaxo said it won't participate in Human Genome Sciences' strategic review process, and will instead launch a cash tender offer this week at $13 a share. Glaxo said its offer "represents a premium of 81 % to HGS's closing share price of $7.17 on 18th April, the last trading day before HGS publicly disclosed GSK's private offer."