LONDON, July 21 /PRNewswire-FirstCall/ -- Roche, the healthcare company,
announced today that it has proposed to acquire the outstanding publicly held
interest in biotech company Genentech for US$89.00 per share in cash, or a
total payment of approximately US$43.7bn to equity holders of Genentech other
than Roche. Roche acquired a majority in Genentech in 1990 and currently owns
55.9% of all outstanding shares.
In a video interview Franz Humer, Roche Chairman, said the two companies
had collaborated for over 20 years but it was time to put the partnership 'on
a new level'.
'We are absolutely convinced that it is in the interest of both parties
that we acquire the 100 per cent and then structure it in a way that
strengthens both sides of the operation.'
In the interview Mr Humer looks at how the offer will impact the group
structurally and financially and what it means for employees as well as
doctors and patients around the world.
It's free to view. All you need to do is register at
http://www.cantos.com. Cantos.com, the online financial broadcaster, features
in-depth interviews, documentaries and webcasts with senior company
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enquiries@cantos.com or phone +44-207-936-1333.
SOURCE Roche
