LONDON (dpa-AFX) - GlaxoSmithKline plc (GSK, GSK.L) said Wednesday it has now completed acquisition of 10 million shares of Theravance Inc. (THRX) common stock on the terms earlier announced.
This follows approval by Theravance's stockholders at their Annual Meeting, and expiration of applicable waiting periods under the US Hart-Scott-Rodino Antitrust Improvements Act of 1976.
GSK said it now owns 25.8 million shares of Theravance common stock, about 26.7% of the total outstanding capital stock of Theravance.
On April 2, Theravance said GSK increased its stake in the company to 26.8 percent by investing about $212.89 million.
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