Human Genome adopts rights plan to ward off Glaxo

(Reuters) – Human Genome Sciences Inc said on Thursday it had adopted a stockholder rights plan as the biotechnology company defends itself against a $2.6 billion hostile takeover bid by drugmaker GlaxoSmithKline Plc. Human Genome said its board determined the $13-a-share bid by the British drugmaker was inadequate and undervalued the company, and it recommended stockholders not tender their shares. …