Pharmaceutical companies in merger talks

Pharmaceutical companies in merger talks

The boards of SmithKline Beecham and Glaxo Wellcome announced last night they were negotiating with a view to a merger which would result in the world's largest pharmaceutical group. If agreed, the proposed merger would lead to Glaxo Wellcome shareholders holding 59.5 per cent of the shares, and SmithKline Beecham shareholders 40.5 per cent.