GlaxoSmithKline acquires 97% of Sirtris Pharmaceuticals' shares in tender offer

By Lisa Kerner

Charlotte, N.C., June 2 - GlaxoSmithKline plc subsidiary Fountain Acquisition Corp. completed its $22.50-per-share tender offer for shares of common stock of Sirtris Pharmaceuticals, Inc.

According to the depositary for the offer, Sirtris shareholders tendered 28,931,756 shares including those tendered through notice of guaranteed delivery, or approximately 97% of Sirtris' outstanding shares, a GlaxoSmithKline news release stated.

Fountain Acquisition has accepted for payment all Sirtris shares tendered in the offer and will effect a short-form merger into Sirtris under Delaware law.

All other remaining Sirtris shares will be acquired at the same $22.50-per-share price, without interest that was paid in the tender offer, the release said.

Sirtris, a Cambridge, Mass., biopharmaceutical company, will become a wholly owned subsidiary of GlaxoSmithKline once the merger is complete.

GlaxoSmithKline is a pharmaceutical and consumer health-related products company based in Brentford, England.

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