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Strategies & Market Trends : Speculating in Takeover Targets

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Dec 31 3:59 PM EST

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From: richardred	2/2/2005 7:21:38 AM
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Roche thinking smaller is better! Roche CEO says may use liquidity for small buys Wed Feb 2, 2005 05:18 AM ET BASEL, Switzerland, Feb 2 (Reuters) - Roche Holding AG (ROG.VX: Quote, Profile, Research) could use part of its cash pile for small acquisitions to buy in products but is not willing to enter major mergers, the head of the company said on Wednesday. "I don't think (the cash) will burn a hole in our pockets," CEO Franz Humer said, referring to Roche's 11 billion Swiss francs ($9.24 billion) in net liquidity. "This cash position would not lead us into ill-considered or unjustified acquisitions or investments." Our position has not changed: we are as before not to be had for a mega-acquisition or merger. We are convinced that it would negatively influence if not destroy our values," Humer added. "However, we will look where there are possibilities for our two core divisions to buy products, product lines and ... some companies or parts of companies which would iron out our weaknesses." Humer also said he expected research and development spending to rise in line with sales in 2005. yahoo.reuters.com

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