MARKET TALK: Genmab CEO Shift Hints No Imminent GSK Bid

15th Jun 2010 09:42

0842 GMT [Dow Jones] Genmab's (GEN.KO) announcement that CEO Lisa Drakeman will be replaced Tuesday indicates a takeover bid from partner GlaxoSmithKline (GSK) is rather unlikely in the near future, says Sydbank analyst Rune Majlund Dahl. Says it would be unlikely to change CEO if company was soon to be sold. Genmab's shares soared Monday amid speculation that GSK might bid for Genmab. Dahl says the CEO shift increases uncertainty about the stock. Adds new CEO van de Winkel might chose a new strategy for the company. Shares +4.2% at DKK60.60, slightly up from trading levels immediately before the CEO news. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 15, 2010 04:42 ET (08:42 GMT)

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