GlaxoSmithKline to Acquire Genelabs Technologies For $57M

I’m a huge fan of early stage deals with lots of upside and a cost under $75M.

GlaxoSmithKline, looking to shore up their hepatitis C pipeline, announced that they have entered into an agreement with Genelabs Technologies for approximately $57 million (£35 million) through a tender offer of $1.30 per share in cash.

Comments

[manlio:]

why novartis don't buy Genelabs??

2008 Nov 02 09:49 AM

[lightvalley:]

This is a low bal offer. Onan adjusted basis this stock once traded at around $10 per share and the fifty two week high is around $2 while the 104 weeek is about twice that.

DO NOT accept the first round offer. Those buying this stock are smart, they are paying less becaseeu of the broad market dip! Heck buy GSK if you must ! ! !

We can get closer to $5 dollars per share, I believe.

2008 Nov 07 01:50 PM