near Basel, July 21, 2008. REUTERS/Christian Hartmann
According to Reuters, Roche Holding AG (ROG) is sticking by its $43.7 billion offer to buy out the rest of Genentech Inc (DNA) it does not already own, its pharmaceuticals chief said in an interview published on Sunday.
The Swiss drugmaker, which already holds 56 percent of Genentech, has had its July offer to buy out the remainder of its U.S. biotech partner rebuffed.
But Genentech's share price has recently fallen below the $89 offer price as concerns mount about Roche's funding of the bid, given ever tighter credit conditions.
"We are sticking to our plan to buy out the remaining 44 percent of Genentech," William Burns, head of Roche's drugs unit, told Swiss newspaper SonntagsZeitung. "It remains our aim to reach an agreement with Genentech."
Related Posts :
Sources :
- Reuters: Roche sticks by $43.7 billion Genentech bid: report, November 9, 2008 06:01 am EST
This is generally never true. Before buying or selling any asset you should do your own research and reach your own conclusion. See my Disclaimer on the bottom for more information.
You are welcome to republish this article, or any portion thereof.
Please, cite the actual/original source. I would be grateful if you could link back.
No comments:
Post a Comment