GlaxoSmithKline Reduces Minimum Tender Condition and Extends Tender Offer To Acquire Genelabs Technologies, Inc.
The minimum tender condition was reduced to the number of Genelabs' shares that when added to the maximum number of Genelabs' shares issuable in the "top-up" option equals one share more than 90 percent of the outstanding Genelabs shares on a fully diluted basis. Based on information provided by Genelabs, GSK estimates the minimum tender condition to be 74.8 percent of the outstanding Genelabs shares on a fully diluted basis.
Genelabs granted Gemstone Acquisition Corporation, a wholly-owned subsidiary of GSK, the "top-up" option pursuant to the previously announced Agreement and Plan of Merger, dated
The depositary for the tender offer has advised GSK that as of
All other terms and conditions of the tender offer remain the same. The terms and conditions of the tender offer are set forth in the Offer to Purchase, dated
Questions and requests for assistance may be directed to the Information Agent for the tender offer, MacKenzie Partners, Inc., at (212) 929-5500 or (800) 322-2885 (toll free).
GlaxoSmithKline plc -- one of the world's leading research-based pharmaceutical and healthcare companies -- is committed to improving the quality of human life by enabling people to do more, feel better and live longer. For company information including a copy of this announcement and details of the company's updated product development pipeline, visit GSK at www.gsk.com.
This press release is neither an offer to purchase nor a solicitation of an offer to sell shares of Genelabs. The solicitation and the tender offer to buy shares of Genelabs is only being made pursuant to the Offer to Purchase and related materials that GSK, SmithKline Beecham Corporation and Gemstone Acquisition Corporation filed with the Securities and Exchange Commission (SEC) on
SOURCE GlaxoSmithKline plc
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