Genentech Rejects Roche’s $43.7B Takeover Bid

On Wednesday, a panel of three independent Genentech directors unanimously concluded that Roche's $89 per share offer to minority investors "substantially undervalues the company." The committee encouraged Roche, which already owns a majority share of Genentech, to make a higher offer.

• "Genentech Rejects Roche Offer as Too Low" (Tansey, San Francisco Chronicle, 8/14).