Keeping the heat on Human Genome Sciences, GlaxoSmithKline insiders are telling Reuters that the pharma giant has rounded up all 12 candidates needed to make a clean sweep of the board.
Right now, the immediate attention is on HGS' ($HGSI) July 16 deadline for buyout offers. GSK ($GSK) is the only bidder which has made its interest known so far, though HGS spurned its $2.6 billion offer. GSK extended its offer for the company until July 20th, hoping that the absence of a higher bid by the 16th would leave its offer as the only one on the table.
Lining up candidates for the board might just make it harder for a white knight to come along, notes Reuters. It's already a tall order, as GSK has locked up a considerable set of Human Genome's assets. And GSK is talking to market insiders, making its case that it will pursue HGS all the way to a final deal.
- here's the story from Reuters