Theravance, GlaxoSmithKline deal

Theravance raised $129.4 million through the sale of 5.8 million shares at $22.50 to partner GlaxoSmithKline. The price is a 2% discount to Theravance's close of $22.85 on Nov. 26, before the deal was announced. The investment increases GSK's stake in Theravance to about 19% from about 12%. ...