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GlaxoSmithKline PLC has agreed to acquire the 92% of its long-time partner, immunotherapeutics company Corixa, it does not already own. The company is paying £2.31 ($4.40) in cash for each of Corixa's common shares or common-share equivalents (a 52% premium to the market average), or about $300mm. It will also assume $100mm of Corixa's outstanding convertible notes (due 2008).
Payment Includes Cash
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