Glaxo Bid Undervalues Human Genome Sciences, Sunday Times Says

GlaxoSmithKline Plc’s $2.6 billion offer for Human Genome Sciences Inc. “completely undervalues” the company according to a major shareholder, the Sunday Times reported.

Mark Evans from Taube Hodson Stonex Partners LLP, a fund manager that owns 5.6 percent of the U.S. drugs maker, termed the bid “unacceptable,” the London-based newspaper said.

Human Genome rejected Glaxo’s $13-a-share cash offer on April 19.

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