Home » News » Drug Sponsors » GSK’s Hart-Scott-Rodino waiting period expires for HGS tender offer

GSK’s Hart-Scott-Rodino waiting period expires for HGS tender offer

Monday, June 4, 2012

GlaxoSmithKline’s waiting period under the Hart-Scott-Rodino Antitrust Improvement Act of 1976, as amended, expired as of June 1, 2012, giving GSK clearance to acquire all outstanding shares of Human Genome Sciences.

GSK’s tender offer to acquire HGS, made on May 10, 2012, was for $13.00 per share in cash. The offer represents a premium of 81% to HGS’s closing share price of $7.17 on April 18, 2012, the last trading day before HGS publicly disclosed GSK’s private offer. The tender offer and withdrawal rights are scheduled to expire at midnight EST on June 7, 2012.

Lazard and Morgan Stanley are acting as financial advisors to GSK and Cleary Gottlieb Steen & Hamilton and Wachtell, Lipton, Rosen & Katz are providing legal advice.

Looking for more news, check out the new FREE CenterWatch Weekly!

The new FREE CenterWatch Weekly is your source of critical news, emerging trends, and business issues around everything in the rapidly changing clinical research marketplace. Check out our new CWWeekly page! Sign up today for your free email newsletter, update your bookmarks and check us out regularly! We look forward to bringing you the best news and information about clinical research in 2018!