GSK rumoured to be in line for GBP 92bn approach from Johnson & Johnson or Roche
GlaxoSmithKline (GSK), the UK-based listed pharmaceuticals group, is rumoured to be a takeover target for rivals Johnson & Johnson or Roche, The Daily Mail reported. The market report noted speculation of a GBP 19 (USD 29.66)-per-share offer from New Jersey-based Johnson or Switzerland-headquartered Roche, which would give the British business a valuation in excess of GBP 92bn.
GSK is considered to be vulnerable at its current share price - GBP 13.51 at the end of trading yesterday, 15 June, a market source quoted in the item said.
Daily Mail