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The Hostile Action Begins . . .

GSK Takes its $2.6B Offer for HGS to the Shareholders

By Catherine Shaffer
Staff Writer

Thursday, May 10, 2012
GlaxoSmithKline plc's $2.6 billion acquisition offer for Rockville, Md.-based Human Genome Sciences Inc. (HGS) turned hostile when GSK announced that it would not participate in a strategic alternatives review process with HGS, and that it would instead commence its tender offer for all outstanding shares for $13 per share in cash, which it first put forward April 11.

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