GSK shareholders approve Novartis deal

LONDON — The overwhelming majority of GlaxoSmithKline shareholders on Thursday approved the proposed transaction with Novartis. 

 

If approved by the appropriate regulatory bodies, the transaction will create a new combined Consumer Healthcare business with 2013 pro forma revenues of $10.2 billion, move Novartis' global vaccines business (excluding influenza vaccines) to GSK for a consideration of $5.3 billion and see the divestiture of GSK's marketed oncology portfolio to Novartis for $16 billion.  

 

As previously announced, the transaction is expected to complete during the first half of 2015, subject to approvals.