GlaxoSmithKline Further Extends Tender Offer to Acquire Genelabs Technologies, Inc.
15 Diciembre 2008 - 8:00AM
PR Newswire (US)
LONDON, Dec. 15 /PRNewswire-FirstCall/ -- GlaxoSmithKline plc
(LSE/NYSE: GSK) announced today that it has extended its previously
announced tender offer to purchase all of the outstanding shares of
common stock of Genelabs Technologies, Inc. (NASDAQ:GNLB), for
$1.30 in cash per share without interest and less any required
withholding taxes, until 5:00 p.m. New York City time on Monday,
December 29, 2008, unless the tender offer is further extended. The
tender offer was scheduled to expire at 12:00 midnight, New York
City time, on Friday, December 12, 2008. In addition, GSK
eliminated the alternative for delivery of shares pursuant to
notices of guaranteed delivery. Accordingly, the depositary for the
tender offer will no longer accept any notices of guaranteed
delivery with respect to the tender offer. The depositary for the
tender offer has advised GSK that as of 12:00 midnight, New York
City time, on Friday, December 12, 2008, approximately 35,135,900
shares of Genelabs common stock had been validly tendered and not
withdrawn pursuant to the tender offer, representing approximately
79.1 percent of the outstanding shares of Genelabs common stock on
a fully diluted basis. In addition, notices of guaranteed delivery
with respect to approximately 1,428,400 shares had been received by
the depositary for the tender offer, which together with the shares
validly tendered pursuant to the tender offer and shares
beneficially owned by GSK and its wholly-owned subsidiaries, would
represent 82.5 percent of the outstanding shares of Genelabs common
stock on a fully diluted basis. The tender offer is conditioned
upon, at the expiration of the offer, there having been validly
tendered and not withdrawn that number of shares which, together
with the number of shares, if any, then beneficially owned by GSK
and its wholly-owned subsidiaries, constitutes at least 90 percent
of the total number of the then-outstanding Genelabs shares on a
fully diluted basis. The expiration date for the tender offer is
being extended to allow time for additional shareholders to tender
their shares to satisfy the 90 percent tender condition. The tender
offer was commenced on November 12, 2008 pursuant to a previously
announced Agreement and Plan of Merger dated October 29, 2008 among
Genelabs, Gemstone Acquisition Corporation and SmithKline Beecham
Corporation. All other terms and conditions of the tender offer
remain the same. The terms and conditions of the tender offer are
set forth in the Offer to Purchase dated November 12, 2008, and as
subsequently amended. Questions and requests for assistance may be
directed to the Information Agent for the tender offer, MacKenzie
Partners, Inc., at (212) 929-5500 or (800) 322-2885 (toll free).
GlaxoSmithKline - one of the world's leading research-based
pharmaceutical and healthcare companies - is committed to improving
the quality of human life by enabling people to do more, feel
better and live longer. Important information This press release is
neither an offer to purchase nor a solicitation of an offer to sell
shares of Genelabs. The solicitation and the tender offer to buy
shares of Genelabs is only being made pursuant to the Offer to
Purchase and related materials that GSK, SmithKline Beecham
Corporation and Gemstone Acquisition Corporation filed with the
Securities and Exchange Commission (SEC) on November 12, 2008 and
as subsequently amended. Investors and security holders should read
these materials carefully because they contain important
information, including the terms and conditions of the tender
offer. Investors and security holders may obtain free copies of the
materials filed with the SEC by GSK and Genelabs relating to the
tender offer through the web site maintained by the SEC at
http://www.sec.gov/. In addition, investors and security holders
may obtain free copies of these materials by contacting the
Information Agent for the offer, MacKenzie Partners, Inc., at (212)
929-5500 or (800) 322-2885 (toll free) or the Investor Relations
departments of GSK or Genelabs. Registered in England & Wales:
No. 3888792 Registered Office: 980 Great West Road Brentford,
Middlesex TW8 9GS DATASOURCE: GlaxoSmithKline plc CONTACT: UK
Media: Philip Thomson, Alice Hunt, Gwenan White, or Stephen Rea,
020-8047-5502; or for US Media: Nancy Pekarek, Mary Anne Rhyne,
+1-919-483-2839, or Sarah Alspach, +1-215-751-7709; or for European
Analyst-Investor: David Mawdsley, +1-020-8047-5564, or Sally
Ferguson, +1-020-8047-5543, or Gary Davies, +1-020-8047-5503; or
for US Analyst-Investor: Tom Curry, +1-215-751-5419, or Jen Hill,
+1-215-751-7002, all of GlaxoSmithKline
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