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Biotechnology Business
GlaxoSmithKline Announces Waiver of a Condition to the Tender Offer for Genelabs Technologies, Inc.
December 20th, 2008
GlaxoSmithKline (LSE/NYSE: GSK) announced that it is waiving a condition relating to a pending lawsuit in the previously announced tender offer to purchase all of the outstanding shares of common stock of Genelabs Technologies, Inc. (NASDAQ:GNLB), for $1.30 per share in cash without interest and less any required withholding taxes. It is a condition to the completion of the tender offer that there not be any pending or threatened claim by or before any governmental entity challenging the making or consummation of the offer or contemplated merger or seeking to enjoin the offer or merger. GSK has waived this condition solely to the extent that it would not be satisfied as...
Source: Law & Health Weekly (2008-12-20)
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