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Web Date: July 17, 2012

Human Genome Sciences Bows To GlaxoSmithKline’s $3 Billion Bid

Acquisitions: Deal caps nearly 20-year partnership of the two firms
Department: Business
Keywords: acquisition, biopharma

Human Genome Sciences has agreed to be purchased by GlaxoSmithKline in a transaction valued at about $3 billion. The decision marks HGS’s failure to attract a higher bid after it rejected a $2.6 billion overture by the British drug firm in April. After turning down that initial bid by GSK, HGS hired Goldman Sachs and Credit Suisse to explore options.

Under the agreement, GSK will attain full ownership of . . .

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