Bingo! >>Roche Increases Offer Price for Genentech Shares to US$ 93.00 per Share and Extends Offer
Friday March 6, 2009, 12:04 pm EST
BASEL, Switzerland, March 6 /PRNewswire/ -- Roche (SWX: ROG.VX; RO.S) announced today that it has increased its offer price for all outstanding publicly-held shares of Genentech (NYSE: DNA - News) to US$ 93.00 per share and extended the offer to 12:00 midnight, New York City time, on Friday, March 20, 2009. All other terms and conditions of the tender offer remain unchanged.
Franz B. Humer, Chairman of the Roche Group, said: "Based on conversations with Genentech shareholders, we believe that there is a strong sentiment to bring this process to a conclusion. As a result, we are increasing our price to US$ 93 per share to maximize shareholder participation and will proceed quickly to complete all necessary financing. We now look forward to successfully completing the transaction."
The Offer to Purchase, Letter of Transmittal and other offering documents have been filed with the U.S. Securities and Exchange Commission. Genentech stockholders may obtain copies of all of the offering documents, including the Offer to Purchase, free of charge at the SEC's website (www.sec.gov) or by directing a request to MacKenzie Partners, Inc., the Information Agent for the offer, at (212) 929-5500 or (800) 322-2885 (Toll-Free).
As of the close of business on March 5, 2009, approximately 500,000 shares have been tendered pursuant to the offer.
Additional information about the transaction, including the offering documents, is available at www.transactioninfo.com/roche.
Greenhill & Co. is acting as financial advisor to Roche and Davis Polk & Wardwell is acting as legal counsel in connection with the tender offer.<<
snip
More than they got from Ventana shareholders, but obviously not enough, hence the raise. DNA at $90, and with me still short the Jan '11 $100 LEAP, I continue to hold. Consistent with Humer's statement about quick resolution, note that the tender offer is for two weeks.
Cheers, Tuck |
