Roche CEO: To Issue Bond When Genentech Tender Offer Launched
February 04 2009 - 4:05AM
Dow Jones News
Roche Holding AG (ROG.VX) Chief Executive Severin Schwan said
Wednesday the company plans to launch a bond to help finance the
planned takeover of U.S. biotech Genentech Inc. (DNA) as soon as it
has launched a public tender offer for its shares.
Schwan was speaking to reporters in Basel at a media conference
on the company's full-year earnings.
"As soon as the tender offer stands, we will launch bonds which
will serve as a base for further talks on financing the deal," he
said.
He declined to say in which currencies the bonds would be
denominated.
Last Friday, Roche launched a hostile bid to buy the roughly 44%
of the U.S. biotech company that it doesn't already own, after its
earlier friendly offer was rejected.
Company Web site: www.roche.com
-By Anita Greil, Dow Jones Newswires; +41 443 8040;
anita.greil@dowjones.com
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