GlaxoSmithKline (GSK) Completes $3.6 Billion Takeover of Human Genome Sciences, Inc. (HGSI)  
8/6/2012 7:03:36 AM

Washington Business Journal by Jeff Clabaugh, Broadcast/Web Reporter

GlaxoSmithKline PLC has completed its $3.6 billion takeover of Rockville-based Human Genome Sciences Inc., the final step in a months-long struggle for control of the company.

All outstanding shares of Human Genome were acquired for $14.25 per share in cash.

Human Genome Sciences agreed last month to be acquired after earlier rejecting an acquisition offer of $13 per share as too low.

Glaxo has said the acquisition will add to earnings starting in 2013 and will result in $200 million in cost savings by 2015.

The deal fives Glaxo complete ownership of Benlysta, the lupus drug jointly developed by the two companies.