Hikma Pharmaceuticals PLC (LSE:HIK) entered into a non-binding term sheet to acquire 91.2% stake in GlaxoSmithKline S.A.E (CASE:BIOC) from Glaxo Group Limited on January 25, 2021. The transaction would be subject to satisfaction of certain conditions, including but not limited to (i) the completion of satisfactory due diligence, (ii) the entry into definitive and binding legal documents; and (iii) obtaining the approval(s) of the regulatory authorities. As of January 27, 2021, The board of directors of GlaxoSmithKline S.A.E agreed to allow Hikma Pharmaceuticals Plc to conduct due diligence.