GlaxoSmithKline Lines Up Nominees for Human Genome Sciences, Inc. Board
Published: Jul 06, 2012
GlaxoSmithKline Plc (GSK.L) has lined up candidates to replace the entire board of Human Genome Sciences Inc (HGSI.O) as it weighs options after its hostile $2.6 billion bid for the U.S. biotech company was rejected, a source familiar with the situation said on Tuesday. The British pharmaceutical giant will wait to see the outcome of Human Genome's ongoing efforts to find a buyer in a separate auction process before deciding its next move, including whether to try to replace the U.S. company's board, the source said. The source asked not to be named because the matter is not public. Human Genome did not have immediate comment. GSK could not be reached immediately for comment.