GlaxoSmithKline has £1.6bn offer rejected
Drugs giant GlaxoSmithKline said it was disappointed that an offer worth £1.6bn (€1.94bn) for US-based Human Genome Sciences (HGS) has been rejected.
Despite an 81% premium to its Wednesday share price, HGS said the move undervalued its business.
Having worked together for 20 years, Glaxo boss Andrew Witty said there was “clear strategic and financial logic” to the combination.
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