Replies to post #190 on CJ's Picks and Trading Room

[$tockfather]

That has been me the last few weeks, SPEED TRADER.lol

Enjoying the last few days of it before the fun comes to an end:(

[$tockfather]

HGSI- D'oh!

Human Genome Sciences Inc. (HGSI) received an unsolicited takeover bid worth $2.58 billion in cash from GlaxoSmithKline PLC (GSK), an offer the biotech company said doesn't reflect its inherent value.

The board has authorized a review of strategic options, including, but not limited to, a potential sale of the company and invited Glaxo to participate in the process.

The drug companies already have a close relationship, which may make if difficult for other suitors to pursue a takeover. The companies split profits form Benlysta, a lupus drug, and are co-developing two other compounds: darapladib, for the treatment of heart disease and albiglutide, for diabetes. Both are in late-stage testing.

The offer, worth $13 a share, marks an 81% premium over Wednesday's close. Shares surged 95% to $14 premarket, topping the offer price and suggesting shareholders are expecting more.

Analysts have long speculated about a possible tie-up between the companies, but Human Genome's sinking stock price last year was thought to be a deterrent as many industry watchers still consider it a rising star that would command a hefty premium. The stock is off 74% in the past year.

Human Genome has requested additional information from Glaxo about investigational products in Glaxo's clinical pipeline to which it has rights, including darapladib and albiglutide.

It has retained Goldman Sachs & Co. and Credit Suisse Securities LLC to assist in its review.