GlaxoSmithKline, global healthcare company, acquired TESARO, an oncology-focused company based in Waltham, Massachusetts, for $5.1bn. The acquisition price of $75 per share in cash represents a 110% premium to TESARO's 30 day Volume Weighted Average Price of $35.67. The proposed transaction will significantly strengthen GSK's pharmaceutical business, accelerating the build of GSK's pipeline and commercial capability in oncology. Lonnie Moulder, Chief Executive Officer, TESARO, said: "This transaction marks the beginning of a new global partnership that will accelerate our oncology business and allow our mission of delivering transformative products to individuals living with cancer to endure. Our Board and Management team are very pleased to announce this transaction, and we are grateful to the management team at GSK for their tremendous vision and the opportunity to preserve and build upon the impact we have had in the cancer community to date."