>>Duncan:Thank you for posting that. GLX is getting desperate..
Thanks for that stunning and most illogical take. You certainly did sell Glaxo at a bad time.
Glaxo is dealing from a position of great strength while SBH is wounded prey, shopping itself to anyone and everyone. Clearly SBH's management has lost all credibility, as the Sunday Times reported.
It is also clear that Leschly is the stumbling block and that he must be fired:
Merger talks between the two companies failed last week after Mr Leschly
and Sir Richard Sykes, Glaxo's chairman, failed to agree on the balance of
power at the top of the merged company.
The two had previously agreed to share power evenly, although Glaxo is
about half as big again as SmithKline. But on February 20, Sir Richard said he
should run the merged company with Jean-Pierre Garnier, SmithKline's chief
operating officer, as his number two. That would have meant Mr Leschly's
immediate resignation, an option rejected by the SmithKline board.
ft.com
Remember, AHP didn't seem to want Leschly either. Fire him and the merger is back on.
My condolences on your bad moves. |
