LONDON-- GlaxoSmithKline PLC (GSK.LN), a pharmaceutical and
healthcare company, said Friday it has set July 20 for expiration
of tender offer to acquire Human Genome Sciences.
MAIN FACTS:
-Expiration is after HGS process bid deadline of July 16.
-Enables HGS shareholders to evaluate outcome of process and
GSK's offer.
-GSK's tender offer will expire after July 16, the deadline set
by HGS for submission of definitive acquisition proposals in its
strategic alternatives review process which began on April 19 after
GSK made a private proposal on April 11.
-GSK believes the three months that will have passed since the
start of this process is more than adequate time for the HGS Board
to bring it to completion.
-Based on circumstances at that time, GSK will consider all
available options regarding its offer but can make no assurance
that the tender offer will be further extended.
-As GSK has clearly stated, the company remains willing to meet
and review its offer with HGS at any time.
-Shares at 1104 GMT down 1%, at 1438 pence, valuing the company
at GBP72 billion.
-Write to Mark Shapland at mark.shapland@dowjones.com