GlaxoSmithKline PLC (GSK) has prepared candidates to replace Human Genome Sciences Inc.'s (HGSI) board, Reuters reported Tuesday, citing a source familiar with the situation.
GSK's next move will depend on how Human Genome's sale process pans out, the source told Reuters.
Reuters on May 30 reported that Glaxo planned to nominate 12 directors to replace Human Genome's board and had begun its search for candidates.
After Human Genome rejected Glaxo's takeover offer, Glaxo took its $2.6 billion bid directly to Human Genome shareholders through a tender offer.
Full story at http://www.reuters.com/article/2012/07/03/us-humangenome-gsk-board-idUSBRE8620ZT20120703
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(END) Dow Jones Newswires
July 03, 2012 16:52 ET (20:52 GMT)
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