Roche Preparing Offer Of $95/Share For Genentech -FT
January 09 2009 - 5:19PM
Dow Jones News
Roche Holding Co. (ROG.VX) is preparing a new offer for
Genentech Inc. (DNA), in which Roche already owns a 56% stake, The
Financial Times reports Friday, without citing sources. The bid is
expected to be about $95 a share, and could go before Genentech's
board before the release of Roche's year-end figures, due in
February. The bid would require debt financing of up to $35
billion. The FT says Roche's strategic target is Avastin,
Genetech's colorectal cancer treatment, for which key trial results
are to be published this summer. Roche is being advised by
Greenhill, while Genentech has hired Goldman Sachs. Roche declined
to comment to the FT.
Full story at
http://www.ft.com/cms/s/0/15e54640-de7f-11dd-9464-000077b07658.html?nclick_check=1
-Dow Jones Newswires, 201-938-5500