Roche Takes Tender Offer to Genentech Shareholders
Roche has launched an $86.50 per share tender offer to shareholders for the minority stake in Genentech that it does not already own after negotiations stalled with Genentech's board. In August, Genentech's independent directors rejected Roche's original offer of $43.7 billion, or $89 per share. If shareholders representing the majority of non-Roche shares accept the new deal, the higher, original offer could be off the table.
- "Roche Takes Its Offer to Genentech Shareholders" (Tansey, San Francisco Chronicle, 2/10).