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Biotech / Medical : GLAXO (GLX) -- Ignore unavailable to you. Want to Upgrade?

To: Ibnbatutaa who wrote (164)	3/2/1998 6:41:00 AM
From: Henry Niman	Respond to of 222

SBH is putting together a Billion Pound bond to fund R&D and lining up shareholder support. Details in the SBH Alliance table at home.att.net . GLX is lining up support from major investors for a hostile bid of $82 Billion. Details in the Ex-Merger table at home.att.net .

To: Ibnbatutaa who wrote (164)	3/2/1998 7:53:00 AM
From: Zoltan!	Read Replies (1) \| Respond to of 222

>>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.