GlaxoSmithKline extends Genelabs offer
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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 further extended.
The tender offer was originally scheduled to expire at 12:00 midnight EST on Wednesday, December 10, 2008.
GSK has extended the tender offer in connection with the addition of SmithKline Beecham Corporation, a wholly-owned subsidiary of GSK, as a bidder, as defined in the Securities Exchange Act of 1934, as amended, with respect to the tender offer.
As of 5 p.m., EST, on December 5, 2008, approximately 3,466,063 shares of Genelabs common stock have been tendered and not withdrawn pursuant to the tender offer, representing approximately 7.8% of the outstanding shares of Genelabs common stock on a fully diluted basis.
The tender offer was commenced on November 12, 2008 pursuant to a previously announced Agreement and Plan of Merger dated October 29, 2008 among Genelabs, Gemstone Acquisition Corporation and SmithKline Beecham Corporation.
All other terms and conditions of the tender offer remain the same, including the condition that, at the expiration of the offer, there have been validly tendered and not withdrawn that number of shares which, together with the number of shares, if any, then beneficially owned by GSK and its wholly-owned subsidiaries, constitutes at least 90 percent of the total number of the then outstanding Genelabs shares on a fully diluted basis. The terms and conditions of the tender offer are set forth in the Offer to Purchase dated November 12, 2008, and as subsequently amended.
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 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
Full Post: GlaxoSmithKline to acquire Genelabs Technologies
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
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
Full Post: Eli Lilly completes tender offer for ImClone Systems
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