Genentech, Innovative Cancer Drug Maker, Receives $43.7B Offer From Roche Holding

07/29/2008 05:12 am ET | Updated May 25, 2011
  • David Jolly New York Times

PARIS -- The Swiss drug maker Roche Holding said Monday that it was offering about $43.7 billion to acquire the 44 percent of the biotechnology company Genentech that it does not already own.

Roche offered $89 in cash for each outstanding share of Genentech, a leading maker of cancer drugs. That represents a premium of 8.8 percent on Genentech's closing price Friday of $81.82.

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