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GlaxoSmithKline Shares Tumble to Four-Year Low.
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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