Hostile Bid | featured news

GlaxoSmithKline is expected to announce a deal to buy Human Genome Sciences for about $2.8 billion as soon as Monday, ending a three-month hostile pursuit of the U.S. biotech company on friendly terms after sweetening its offer.

GlaxoSmithKline Plc plans to launch a campaign to replace the entire board of Human Genome Sciences Inc with its own nominees, stepping up its $2.6 billion hostile bid for the U.S. biotech company, sources familiar with the situation said on Wednesday.

Global brewer SABMiller took its $10.0 billion bid for Australia's Foster's hostile, going direct to shareholders, SABMiller said on Wednesday.

Nasdaq and IntercontinentalExchange are withdrawing their proposed $11 billion bid for the parent of the New York Stock Exchange after recognizing they would not receive regulatory approval for the transaction.

Nasdaq OMX and IntercontinentalExchange said they will take their bid for NYSE Euronext directly to shareholders after being rebuffed twice by the exchange.

Nasdaq OMX Group Inc.'s potential hostile bid for NYSE Euronext would face substantial antitrust questions in the U.S., where it would merge two direct competitors and create a monopoly in the market for corporate listings, according to antitrust lawyers.

French drugmaker Sanofi-Aventis launched a hostile bid for Genzyme at $69 per share on Monday, taking its $18.5 billion offer direct to shareholders after Genzyme management refused to negotiate.

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Kraft is expected to officially launch a hostile bid for Cadbury, setting in motion a tussle for control of the British confectionary firm.