GlaxoSmithKline to acquire Genelabs Technologies
A provocative debate in this week’s PLoS Medicine examines whether the private sector should step up its involvement in delivering health care in low-income countries. These countries suffer a disproportionate burden of disease, and often struggle with weak health systems. Both the public and private sector deliver health care in these countries, but the appropriate
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GlaxoSmithKline has announced that Gemstone Acquisition Corporation, a wholly-owned subsidiary of GSK, is commencing a cash tender offer to purchase all outstanding shares of common stock of Genelabs Technologies, Inc., for $1.30 in cash without interest and less any required withholding taxes.
The tender offer is being made pursuant to a previously announced Agreement and Plan of Merger dated October 29, 2008 among Genelabs, Gemstone and SmithKline Beecham Corporation, a wholly-owned subsidiary of GSK.
The Genelabs board of directors has unanimously determined that the tender offer and the merger are fair to, and in the best interests of, Genelabs and the shareholders of Genelabs and adopted and approved the merger agreement, the tender offer and the merger. The Genelabs board of directors unanimously declared the advisability of the merger agreement and recommends that Genelabs’ shareholders tender their shares pursuant to the tender offer.
The tender offer will expire at 12:00 midnight EST on Wednesday, December 10, 2008, unless extended in accordance with the merger agreement and the applicable rules and regulations of the Securities and Exchange Commission (SEC). The offer is subject to various conditions, including the acquisition by GSK of 90 percent of the outstanding shares of Genelabs’ common stock on a fully diluted basis.
GSK today will file with the SEC a tender offer statement on Schedule TO setting forth in detail the terms of the tender offer. Genelabs today will file with the SEC a solicitation/ recommendation statement on Schedule 14D-9 setting forth in detail, among other things, the recommendation of Genelabs’ board of directors that Genelabs’ shareholders accept the tender offer and tender their shares pursuant to the tender offer. Questions and requests for assistance may be directed to the Information Agent for the offer, MacKenzie Partners, Inc., at (212) 929-5500 or (800) 322-2885 (toll free).
GlaxoSmithKline plc has announced the successful completion of the tender offer by its wholly-owned subsidiary Gemstone Acquisition Corporation for shares of common stock of Genelabs Technologies, Inc. The tender offer expired at 12:00 midnight, New York City time, on Tuesday, January 6, 2009. The depositary for the tender offer has advised GSK that shareholders
Full Post: GSK completes tender offer for shares of Genelabs Technologies
GlaxoSmithKline has announced today that it has extended its previously announced tender offer to purchase all of the outstanding shares of common stock of Genelabs Technologies, Inc. for $1.30 in cash per share without interest and less any required withholding taxes, until 12:00 midnight EST on Friday, December 12, 2008, unless the tender offer is
Full Post: GlaxoSmithKline extends Genelabs offer
Eli Lilly and Company and ImClone Systems Incorporated have announced the successful completion of the previously announced tender offer by Lilly’s wholly-owned subsidiary, Alaska Acquisition Corporation, for all outstanding shares of ImClone at a price of $70.00 per share in cash. The offer expired at 12:00 midnight EST, on Thursday, November 20, 2008. The depositary
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Sun Pharmaceutical Industries Ltd. today announced its subsidiary, Alkaloida Chemical Company Exclusive Group Ltd. (Alkaloida), has extended the Expiration Date of the Tender Offer for the purchase of all outstanding Ordinary Shares of Taro Pharmaceutical Industries Ltd. (Taro). The Offer will now expire at 5:00 p.m., New York City time, on Friday, January 30, 2009,
Full Post: Sun Pharmaceutical extends tender offer for Taro
Johnson & Johnson has announced it has extended its previously announced cash tender offer, through its wholly-owned subsidiary, Binder Merger Sub, Inc., for all outstanding shares of common stock of Omrix Biopharmaceuticals, Inc. until 12:00 midnight (Eastern time), on Dec. 26, 2008, unless further extended. The tender offer was originally scheduled to expire at 12:00
Full Post: Johnson & Johnson extends cash tender offer for Omrix Biopharmaceuticals