Roche Chairman: Friendly Deal With Genentech Cuts Out Uncertainty
12 Marzo 2009 - 1:49AM
Noticias Dow Jones
Roche Holding AG (ROG.VX) Chairman Franz Humer said Thursday
that he was delighted to have reached a friendly deal to take over
Genentech Inc. (DNA), because this will eliminate uncertainties for
shareholders and employees and speed up the integration
process.
Roche said earlier Thursday it has reached a friendly deal with
Genentech Inc. (DNA) to buy the 44% of the U.S. biotech company
that it doesn't already own for around $46.8 billion.
Humer said he was confident that most, if not all, senior
Genentech managers will stay with the combined company. He also
expects Genentech's scientists and other staff to stay on.
Roche has the financing of the deal in place, he said, after the
Basel-based drugmaker raised nearly $40 billion in bond markets in
recent weeks.
Company Web Site: http://www.roche.com
-By Anita Greil, Dow Jones Newswires; +41 43 443 8044 ;
anita.greil@dowjones.com