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Biotech / Medical : Ligand (LGND) Breakout!
LGND 199.07-3.4%Nov 20 3:59 PM EST
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To: celeryroot.com who wrote (13990)1/30/1998 8:51:00 PM
From: Henry Niman  Read Replies (1) of 32384
 
Here's Reuter's earlier story:
SmithKline in merger talks with Glaxo Wellcome

PHILADELPHIA, Jan 30 (Reuters) - SmithKline Beecham Plc (SB.L) and Glaxo
Wellcome Plc(GLXO.L), two leading drug companies based in Britain, on Friday
said they were in talks that could lead to a merger creating the world's
largest pharmaceutical concern.

The companies are discussing a proposal that calls for Glaxo Wellcome
shareholders to own 59.5 percent and SmithKline shareholders to own 40.5
percent of the share capital of the
The news release came just two minutes after SmithKline issued a statement
saying it had terminated merger talks, announced 10 days ago, with American
Home Products Corp.(AHP.N), a U.S. drug and consumer products company. An
American Home Products spokesman declined to comment on the breakdown in
talks with SmithKline and would not say whether the company was pursuing
other merger possibilities.

Jeremy Heymsfeld, a SmithKline Beecham spokesman based in Philadelphia, the
company's U.S. headquarters, declined to comment further on the talks with
Glaxo Wellcome. He also declined to say when talks with American Home had
ended.

A spokesman for Glaxo Wellcome said he could not say when further details of
the deal might become available. He stressed that the proposed merger would
create the largest research and development organization in the health-care
industry.

19:07 01-30-98
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