0
Roche Gets Genentech in $46.8B Biotech Deal
By Harry Kimball
|
Posted Mar 12, 09 6:00 AM CDT
|
Share
(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.