Block Drug
This article was originally published in The Tan Sheet
Executive Summary
SmithKline has extended its cash offer for outstanding shares of Block Drug at $53/share to Jan. 12 because "all of the conditions to the offer have not been satisfied or waived...including obtaining European Commission approval," SB says Dec. 14. Offer was scheduled to expire Dec. 13. SmithKline announced its plan to purchase Block for roughly $1.24 bil. in October (1"The Tan Sheet" Oct. 16, p. 6)