City voices fury at collapse of Glaxo merger
Article Abstract:
The value of shares in pharmaceutical company Glaxo Wellcome has declined by almost 13% to 1657p following the collapse of its plans to merge with SmithKline Beecham. The value of the latter's shares has fallen by more than 10% to 724p. The collapse of the merger plan has been greeted with shock in the City of London, and there has been extensive criticism from institutional shareholders and analysts. Some observers believe that the credibility of both companies has been damaged.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1998
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Thousands of job losses feared in SmithKline merger
Article Abstract:
Moves to reduce costs following the planned 77 billion pounds sterling merger of pharmaceuticals concerns American Home Products and SmithKline Beecham could lead to widespread job losses, according to trade unions. MSF, the science and finance union, is now seeking a meeting on employment issues with SmithKline Chief Executive Jan Leschly. Some observers believe that SmithKline's head office in Brentford, England, could be particularly badly affected.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1998
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Glaxo and SmithKline Beecham face drugs sell-off to seal 100bn pounds sterling mega-merger
Article Abstract:
The planned 100 billion pounds sterling merger of Glaxo Wellcome and SmithKline Beecham may involve disposals in the areas of drugs used to combat nausea and anti-viral drugs. The deal will be investigated by the European Commission and the Federal Trade Commission, and may not be permitted to go ahead until these disposals are made. Unions are strongly opposed to the prospect of extensive redundancies in London, England.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1998
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