wpostServer: http://css.washingtonpost.com/wpost
Robert H. Smith School of Business
The Motley Fool

Market Foolery Featured Podcasts

  • MarketFoolery 04.17.14
    When a company has legal problems, what does it mean for investors?  What does Yelp’s case before the Virginia State Supreme Court mean for Google and TripAdvisor?  And what does Adam Carolla’s legal battle mean for the future of the MarketFoolery podcast?  We tackle those questions and the exciting world of space law with Assistant General Counsel Chris Harris.
  • MarketFoolery: 04.16.2014
    We analyze the world of digital media, including Pandora, iTunes Radio, Spotify with Audiam CEO Jeff Price.  Plus, Jeff discusses how Netflix, Amazon, and many more are fighting in the “Battle for the Living Room”.
  • MarketFoolery 04.15.14
    We discuss the energy industry landscape, including Big Oil, natural gas, solar stocks and more with analyst Taylor Muckerman.  Plus we look at Chesapeake Energy one year after Aubrey McClendon left the CEO office.    
Capital Business
Posted at 11:13 AM ET, 07/16/2012

GlaxoSmithKline buys Human Genome Sciences for $3.6B


Human Genome Sciences' headquarters in Rockville. (Jeffrey MacMillan - Capital Business)
British drugmaker GlaxoSmithKline has agreed to pay $3.6 billion for Rockville-based Human Genome Sciences after a months-long acquisition dispute over the company’s true value.

Glaxo has extended multiple buyout offers since April to both the HGS board of directors and its shareholders that valued the company at $2.6 billion, or $13 per share, but the company repeatedly rejected them as too low.

This latest agreement will fetch $14.25 per share in cash for HGS, a transaction value worth about $3.6 billion on an equity basis, or approximately $3 billion net of cash and debt, the companies said.

The deal brings an end to what had become an increasingly heated battle for control of the company.

Glaxo had attempted to bypass the board and purchase stock directly from investors. HGS then thwarted that effort with a poison pill, but gained a lawsuit from some disgruntled shareholders in response.

The two firms are development and marketing partners on several drugs, including Benlysta, which was approved by the Food and Drug Administration last year to treat systemic lupus.

By  |  11:13 AM ET, 07/16/2012

 
Read what others are saying
     

    © 2011 The Washington Post Company