ARTICLE | Company News
GSK to acquire Genelabs
October 31, 2008 12:25 AM UTC
GlaxoSmithKline (LSE:GSK; NYSE:GSK) plans to acquire Genelabs (NASDAQ:GNLB) in a tender offer of $1.30 per share, or $57 million in cash. The price is a 465% premium to Genelabs' close of $0.23 on Wednesday, the day before the deal was announced. Genelabs' board recommended that stockholders tender their shares. ...