HGS rejects GSK's opening gambit
This article was originally published in Scrip
Human Genome Sciences has rejected a $13.00 per share unsolicited cash offer from GlaxoSmithKline saying it "does not reflect the value inherent" in the company. The offer values HGS at around $2.6 billion, and represents an 81% premium to HGS' closing price yesterday (18 April).
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