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Will Celgene (CELG) Bid for Human Genome Sciences, Inc. (HGSI)?


7/9/2012 7:01:23 AM

Celgene(CELG_) is not buying Human Genome Sciences(HGSI_), according to a source in contact with Celgene management. Late Friday, Reuters, citing its own unnamed source, reported that Celgene was one of two possible bidders for Human Genome Sciences, which is trying to fight off a hostile, $13-per-share offer from GlaxoSmithKline. Celgene has no interest in an acquisition of Human Genome or a merger of equals between the two companies, according to my source, contradicting the Reuters story. More likely, bankers working for Human Genome are planting speculative rumors in the press to compel Glaxo to raise its offer price, my source adds.

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