GlaxoSmithKline
This article was originally published in The Tan Sheet
Executive Summary
Buyout of Block Drug receives final European Commission approval. The $1.24 bil. transaction is likely to be completed Jan. 16, GSK said. Buyout based on $53 per share of Block; the NASDAQ issue remained steady, closing at $52.94 Jan. 12, the end of the waiting period for the deal. Adding Block's niche products - Sensodyne toothpaste and Polident denture products - to GSK's portfolio could provide the Aquafresh marketer with well over $500 mil. in overseas sales in FY 2001 (1"The Tan Sheet" Oct. 16, 2000, p. 6)
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