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GSK amends conditions in tender offer for HGS.

M2 EQUITYBITES-May 23, 2012-GSK amends conditions in tender offer for HGS(C)2012 M2 COMMUNICATIONS

British pharmaceutical company GlaxoSmithKline (GSK) (LSE:GSK) (NYSE:GSK) said today that it has amended the conditions of its tender offer to acquire Human Genome Sciences (HGS) (NASDAQ:HGSI).

GSK has made an offer of USD13.00 per share but this has been rejected by HGS and last week the company adopted a stockholder rights plan ("poison pill").

In response, GSK has added a condition to its offer requiring HGS to redeem the poison pill or, alternatively, GSK being satisfied that the pill has been invalidated or is otherwise inapplicable to GSK's acquisition of HGS. The tender offer is still scheduled to expire at midnight New York City time on 7 June 2012.

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Publication:M2 EquityBites (EQB)
Date:May 23, 2012
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