The following video is part of today's MarketFoolery podcast, in which host Chris Hill, along with Charly Travers and Joe Magyer, discuss the latest business news. Shares of Human Genome Sciences doubled today after GlaxoSmithKline made a $2.6 billion bid for the biopharmaceutical company. In this segment, the guys analyze why Glaxo made the bid and why Human Genome Sciences passed it up. They also examine Human Genome Sciences' business to see whether the company just made a mistake walking away from $2.6 billion.

Chris Hill owns no shares of any of the companies mentioned. Motley Fool newsletter services have recommended buying shares of GlaxoSmithKline. The Motley Fool has a disclosure policy. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.