trending Market Intelligence /marketintelligence/en/news-insights/trending/ZTHhxQkIYbUQqBvuZ1jrCA2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

GSK extends tender offer for Tesaro's outstanding shares

COVID-19 Pandemic Likely To Cause US Telemedicine Boom

Gauging Supply Chain Risk In Volatile Times

S&P Global Market Intelligence

Cannabis: Hashing Out a Budding Industry

Segment

IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help


GSK extends tender offer for Tesaro's outstanding shares

GlaxoSmithKline PLC extended its tender offer to buy all issued and outstanding shares of Waltham, Mass.-based biotechnology company Tesaro Inc. for $75 each.

U.K.'s largest drugmaker is acquiring Tesaro, maker of ovarian cancer drug Zejula, for $5.1 billion. GSK's tender offer for all of the biotech's shares — which was started Dec. 14, 2018 — will now close Jan. 18, instead of Jan. 14.

A total of 46,743,017 Tesaro shares, or about 77.2% of all issued and outstanding shares of the company, have been tendered under the offer as of Jan. 14, GlaxoSmithKline said in a news release.

Completion of the tender offer is subject to the tender of over 50% of Tesaro's shares, as well as other conditions.

GSK's acquisition of Tesaro marked a shift for the company toward the highly competitive field of oncology.