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GlaxoSmithKline Shares Tumble to Four-Year Low.

The Philadelphia Inquirer (Philadelphia, PA)

| June 01, 2002 | COPYRIGHT 2002 The Philadelphia Inquirer. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Byline: Linda Loyd

Jun. 1--Shares of GlaxoSmithKline P.L.C. tumbled to a 4-year low yesterday, following a report that it has had preliminary merger discussions with Bristol-Myers Squibb Co.

Executives from each company met in the Princeton, N.J., offices of Bristol-Myers in the last two weeks, Hemant Shah, independent drug industry analyst in Warren, N.J., said. "I have sources who said they have met," Shah said in a telephone interview.

Glaxo, of London, has its U.S. headquarters in Philadelphia and North Carolina. The world's second-largest pharmaceutical company has had exploratory talks with Bristol-Myers on whether a merger would work, ...

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Source: HighBeam Research, GlaxoSmithKline Shares Tumble to Four-Year Low.

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