Roche cuts Genentech bid, goes hostile (Dealscape

Having failed to win over the Genentech Inc. board last summer, Roche Holding AG on Friday unveiled a cut-rate $42.5 billion hostile offer for the minority of Genentech that it doesn't already own.

Roche, with headquarters in Basel, Switzerland, said it would pay $86.50 per Genentech share to mop up the 44% not already under its control. That's 3% less than the $89 it offered about six months ago and also a near-3% discount to Genentech's Thursday close.

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NOT A SUBSCRIBER? Roche cuts Genentech bid, goes hostile Posted on January 30, 2009 4:15 PM Having failed to win over the Genentech Inc. board last summer, Roche Holding AG on Friday unveiled a cut-rate $42.5 billion hostile offer for the minority of Genentech that it doesn't already own. Roche, with headquarters in Basel, Switzerland, said it would pay $86.50 per Genentech share to mop up the 44% not already under its control. That's 3% less than the $89 it offered about six months ago and also a near-3% discount to Genentech's Thursday close. This is a free preview of the content available in The Deal Pipeline. Subscribers enjoy access to the full story, as well as second-to-none research tools. To request a demo, or, if you are an existing user to The Deal Pipeline, log in to your account, please scroll down and click the button. Dig deeper, with Pipeline. 1,242 company records related to Roche Holding AG 24,654 company records related to Genentech Inc. 88,217 company records related to Pharmaceuticals 42,348 Person records related to Pharmaceuticals 10 years of news and analysis archives from the voice of The Deal Economy. Most searched keywords Deutsche Bank Birds Eye Cadbury AG Agrium Inc. Skadden Arps Revolution Money Tandberg ASA Aisling Capital Ken Lewis Natco		EXISTING USERS Username Password Forget your password? Missing a product?

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