Roche Gets Genentech in $46.8B Biotech Deal

By Harry Kimball,  Newser Staff
Posted Mar 12, 2009 6:00 AM CDT
A Genentech researcher works on an experiment.   (AP Photo)
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(Newser) – Swiss drug giant Roche has succeeded in its quest to own biotech firm Genentech outright, and will purchase the 44% of shares it does not already own for $95 each, the San Francisco Chronicle reports today. The $46.8 billion deal comes after months of haggling, wherein Roche offered as little as $86.50 for shares Genentech valued at $112. Roche pledges to maintain Genentech’s San Francisco campus.