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GSK and Novartis announced a meeting on Dec. 18, 2014 to discuss the $20 billion asset swap between the two companies.
In April, Novartis and GlaxoSmithKline (GSK) announced that they would swap assets in which Novartis would acquire GSK’s oncology products business, and GSK would acquire Novartis’ vaccines business (not including the flu vaccine). The two groups would trade more than $20 billion in assets, combined.
On Nov. 24, 2014, the companies announced a general meeting to be held on Dec. 18, 2014 where the companies will seek shareholder approval for the proposed transaction. GSK posted the “circular” to shareholders and notice of a general meeting in relation to the transaction on its website.