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Exclusive: GSK eyes replacing Human Genome board: sources


    NEW YORK/LONDON (Reuters) - GlaxoSmithKline Plc plans to launch a campaign to replace the entire board of Human Genome Sciences Inc with its own nominees, stepping up its $2.6 billion hostile bid for the U.S. biotech company, sources familiar with the situation said on Wednesday.

    GSK intends to initiate a consent solicitation process, which could come in the next few weeks, the sources said. Human Genome has started reaching out to executives in the pharmaceutical industry as well as finance and governance experts to nominate as candidates for Human Genome's board, the sources said.

    GSK plans to nominate 12 directors to replace the entire Human Genome board, the sources said. GSK is also expected to extend its tender offer for Human Genome beyond June 7, the sources added.

    GSK declined to comment. Human Genome was not immediately available for comment.

    (Reporting By Soyoung Kim and Paritosh Bansal in New York, and Ben Hirschler in London; Editing by Gerald E. McCormick)