Human Genome agrees to GlaxoSmithKline takeover

Deal is expected to be announced before the US stock market opens today

Human Genome Sciences Inc has agreed to be acquired by GlaxoSmithKline Plc, subject to approval of some last-minute details, for about $14 a share in cash, two sources familiar with the situation said on Sunday.

The deal is expected to be announced before the US stock market opens on Monday, the sources added.

The price represents an increase to Glaxo's previous offer of $13 a share.

Human Genome shares ended trading on Friday at $13.58.