shareholders to vote on Novartis deal on Dec. 18
Send a link to a friend
[November 24, 2014]
LONDON (Reuters) - Britain's GlaxoSmithKline has asked its
shareholders to vote at a meeting on Dec. 18 on its proposed major deal
with Switzerland's Novartis, which will see the two pharmaceutical group
trade more than $20 billion of assets.
The transaction, which includes GSK buying Novartis' vaccines
business, Novartis purchasing GSK's cancer drugs, and the two groups
tying up in consumer healthcare, was unveiled in April.
In a letter to shareholders endorsing the deal, GSK's chairman
Christopher Gent said approval would strengthen its franchises in
vaccines and consumer healthcare to complement its leading position
in respiratory and HIV.
"This is the most significant transaction for the Company since the
creation of GlaxoSmithKline in 2000," he said.
(Reporting by Paul Sandle; editing by Sarah Young)
[to top of second column]
[© 2014 Thomson Reuters. All rights
Copyright 2014 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.