Chatter that GlaxoSmithKline (NYSE:GSK) will take its $13 per share offer directly to Human Genome (NASDAQ:HGSI) shareholders sent GSK shares down Wednesday. However the firm believes that the $2.6 billion offer is “full and fair” and it says that it will initiate the tender offer this week. Further, Glaxo remains “willing to meet and review its offer with HGS at any time”, but says that its takeover target has had ample time to complete its evaluation of alternatives.
Don’t Miss: Glaxo Backs Human Genome Into a Corner.
Marathon Oil (NYSE:MRO) shares rise a bit, as it agrees to purchase private equity Paloma Partners II for $750 million in cash. Paloma which owns around 17,000 net acres in the Eagle Ford shale play, and reports that net production as of April 1 was approximately 7,000 barrels of oil equivalent daily.
Bed Bath & Beyond (NASDAQ:BBBY) buys Cost Plus (NASDAQ:CPWM) for $22 per share in an all cash transaction. The company predicts that the acquisition will be “slightly” accretive to fiscal year 2012 earnings.
Westinghouse Solar (NASDAQ:WEST) and privately held CBD Energy agree to merge.
Avon Products (NYSE:AVP) shares move up solidly following news that a Coty shareholder to divest Reckitt Benckiser (RBGPY.PK) shares, a move that ignites chatter that a new bid for AVP could be moving forward.
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