Roche, Genentech End Joust and Agree to Merge

Marino, Jonathan
March 2009
Mergers & Acquisitions Report;3/16/2009, Vol. 22 Issue 11, p8
The article reports on the agreement of Genentech to be acquired by Swiss drugmaker Roche at a sale price of 95 dollars per share in March 2009. It was noted that Roche's bid was first made in July 2008 and it was initially rejected by Genentech's board. The deal values the remaining shares of Genentech which Roche does not already own at 46.8 billion dollars. The companies announced jointly that as a result of the deal, Roche's operations in the U.S. will be moved from Nutley, New Jersey, to Genentech's headquarters in San Francisco, California.


Related Articles

  • Roche now has partner for Ventana Medical. Smith, Nicholas // Inside Tucson Business;3/23/2009, Vol. 18 Issue 43, p1 

    The article reports on the acquisition of Genentech Inc. by pharmaceutical giant Roche Holding AG in Tucson, Arizona. It is noted that Roche paid $46.8 billion for the 44 percent of Genentech stock, which amounted the purchase price of $95 per share. Meanwhile, Roche has estimated that the...

  • Roche ups its share price in hostile bid for Genentech to $93.  // Medical Device Daily;3/9/2009, Vol. 13 Issue 44, p4 

    The article reports that Roche of Basel, Switzerland, has raised its offering price for all outstanding publicly-held shares of Genentech of South San Francisco, California. Roche increased its offer from $86.50 up to $93 per share and extended the offer to midnight on March 20, 2009. As of...

  • Genentech urges shareholders to take no action now on offer.  // Medical Device Daily;2/11/2009, Vol. 13 Issue 27, p3 

    The article reports on th appeal of a special committee of the board of directors of Genentech to the company's shareholders to ignore the hostile tender offer made by Roche in February 2009. As stated, Roche disclosed its intention to purchase all of the outstanding shares of Genentech stock...

  • Roche Ups Offer for Genentech; Will $93 Per Share Get it Done? Morrison, Trista // BioWorld Today;3/9/2009, Vol. 20 Issue 44, p1 

    The article report that Roche Holdings AG has upped its offer price to $93 per share after it failed to tempt the investors of Genentech Inc. into tendering their shares for $86.50 a piece. Analyst Christopher Raymond wrote in a research note that Roche's chances of completing its hostile bid at...

  • Roche Goes Hostile, Cuts Genentech Bid to $42 Billion.  // MondayMorning;2/9/2009, Vol. 17 Issue 5, p1 

    The article reports on the bid of Swiss drugmaker Roche Holding AG to U.S. biotechnology group Genentech Inc. Roche is cutting its bid price from $44 billion to $42 billion making a public tender offer at $86.50 per share in cash. It states that the price came after the world's biggest drugmaker...

  • Fourth time lucky: Roche seals deal on Genentech merger.  // TCE: The Chemical Engineer;Apr2009, Issue 814, p5 

    The article reports that biotechnology firm Genentech has accepted a bid from Roche for $95 per share a further increase on a bid made on March 6, 2009 of $93 per share. The board of directors of Genentech have supported the deal after rejecting three previous bids from Roche. Ihe seventh...

  • Roche to acquire Memory Pharmaceuticals for $50 million.  // PharmaWatch: Biotechnology;Jan2009, Vol. 8 Issue 1, p18 

    The article reports on a definitive merger agreement signed by Roche and Memory Pharmaceuticals Corp. for Roche to fully acquire Memory in an all-cash transaction for $50 million in the U.S. The agreement will allow Roche to commence a tender offer to acquire all of the outstanding shares of...

  • Roche sets sight on Genentech.  // Pharmaceutical Technology Europe;Mar2009, Vol. 21 Issue 3, p10 

    The article reports on an offer of $86.50 per share made by Roche directly to the Genentech's shareholders. The offer replaces the public proposal issued by Roche in July 2008 to purchase all the publicly-held shares for $89 per share through a negotiated merger. Genentech seems unconvinced by...

  • Return Serve To Roche. P., Shankar // njbiz;8/18/2008, Vol. 21 Issue 34, p2 

    The article reports on the planned acquisition of drug company Roche to buy 44% of biotechnology company Genentech for $43.7 billion. The offer was rejected by Genentech and analysts believed Roche would improve its price. Roche is said to relocate its manufacturing functions to San Francisco,...


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics