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Exclusive: Human Genome Sciences, Inc. (HGSI) Rejected Amgen (AMGN)'s $7 Billion Bid in 2010


7/27/2012 6:57:17 AM

Amgen Inc, the world's largest biotech company, had offered to acquire Human Genome Sciences Inc for $35 per share two years ago, but the preliminary $7 billion bid was rejected by its smaller U.S. rival, two people familiar with the situation said on Thursday. Amgen, at the time, was hunting aggressively for potential acquisitions to reinvigorate its product portfolio. Human Genome, which last week agreed to be bought by British drugmaker GlaxoSmithKline Plc for $14.25 per share -- or $3 billion -- said in a filing with regulators last week that the company had received, and rebuffed, a preliminary takeover bid at $35 per share in August 2010. It did not identify the prospective buyer.

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