GlaxoSmithKline could be working on USD 15 per share cash bid for Raptor Pharmaceutical Corp
GlaxoSmithkline, an FTSE-100 pharmaceuticals group, could be working on a USD 15 (EUR 11.02) per share cash bid for the listed Novato, California-based biopharmaceuticals company, Raptor Pharmaceutical Corp., The Daily Mail reported. The newspaper’s market report did not cite a source for the rumours.
The item said Raptor seems vulnerable due to the impending retirement of the chief executive and founder Christopher Starr.
Raptor Pharmaceuticals’ market capitalisation stood at USD 684m at the close of trading in New York last night, 9 July.
Source Daily Mail