The British drug company is looking to replace the entire board of Human Genome Sciences, the biotechnology company that it is trying to acquire for $2.59 billion, according to people with direct knowledge of the matter.
NEW YORK/LONDON (Reuters) - GlaxoSmithKline Plc plans to launch a campaign to replace the entire board of Human Genome Sciences Inc with its own nominees, stepping up its $2.6 billion hostile bid for the U.S. biotech company, sources familiar with the situation said on Wednesday. GSK intends to initiate a consent solicitation process, which could come in the next few weeks, the sources said. Human Genome has started reaching out to executives in the pharmaceutical industry as well as finance and governance experts to nominate as candidates for Human Genome's board, the sources said. ...
MUMBAI: Heineken is likely to ask Vijay Mallya, who owes creditor banks more than $1 billion, to step down from the board of United Breweries, India's largest brewer, three people with direct knowledge of the plan told Reuters. They said such a move would likely be a prelude to the Dutch drinks firm raising its stake in the maker of Kingfisher beer to above 50 percent, betting on a small but fast-growing beer market. Heineken acquired a 37.5 percent stake in United Breweries in 2008 through its takeover of Scottish & Newcastle and has since increased its holding to 42.4 percent.
NEW YORK/LONDON (Reuters) - GlaxoSmithKline Plc plans to launch a campaign to replace the entire board of Human Genome Sciences Inc with its own nominees, stepping up its $2.6 billion hostile bid for the U.S.