Benzinga's M&A Chatter for Thursday April 19, 2012

The following are the M&A deals, rumors and chatter circulating on Wall Street for Thursday April 19, 2012:

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Human Genome Sciences

announced Thursday that it has received an unsolicited proposal from GlaxoSmithKline

to acquire HGS for $13.00 per share in cash. The HGS Board of Directors, in consultation with independent financial and legal advisors, has carefully reviewed and considered the GSK offer and has determined that the offer does not reflect the value inherent in HGS. Human Genome Sciences closed at $14.17 Thursday, a gain of 97.63% on 18 times the average daily volume.

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Great Wolf Resorts

announced Thursday that it has received a committed offer from KSL Capital Partners to acquire Great Wolf for $7.25 per share in cash, subject to the terms and conditions of the merger agreement provided with the offer. The Great Wolf Board of Directors, in consultation with its independent financial and legal advisors, has determined that the KSL Offer constitutes a “Superior Proposal” under the terms of the Agreement and Plan of Merger, dated March 12, 2012, as amended on April 6, 2012 and as further amended on April 18, 2012, between Great Wolf and affiliates of Apollo Global Management

. In accordance with the terms of the Apollo Merger Agreement, Great Wolf has provided written notice to Apollo that Great Wolf is prepared to terminate the Apollo Merger Agreement subject to Apollo's right to make adjustments, within three business days (prior to 11:59 p.m. New York City time on April 24, 2012), to the terms and conditions of the Apollo Merger Agreement so that it results in a transaction that is no less favorable to Great Wolf stockholders than the KSL Offer. Great Wolf Resorts closed at $7.42 Thursday, a gain of 3.63% on 43 times the average daily volume.

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Cell Therapeutics

and S*BIO Pte Ltd announced Thursday that the companies have entered into an asset purchase agreement pursuant to which CTI would acquire world-wide rights to S*BIO's pacritinib, a highly selective JAK2 inhibitor. Pacritinib is an oral JAK2 selective inhibitor that has demonstrated encouraging clinical benefit in phase 1 and 2 clinical studies in patients with primary myelofibrosis or MF secondary to other myeloproliferative neoplasms. Pacritinib has orphan drug designation in the U.S. and Europe for myelofibrosis. Pursuant to the terms of the agreement, CTI will make an upfront payment of $15 million and issue $15 million shares of unregistered preferred stock convertible into common stock in CTI. The agreement also includes regulatory success- and sales-based milestone payments, as well as single digit royalties on net sales. CTI will be solely responsible for development and commercialization activities of pacritinib worldwide. The agreement will be subject to satisfaction of certain closing conditions. The terms of the agreement will be provided in more detail in a Form 8-K to be filed with the U.S. Securities and Exchange Commission. Cell Therapeutics closed at $1.16 Thursday, a gain of 0.87% on less than the average daily volume.