Genentech Urges Shareholders To Take No Action With Respect To Revised Offer From Roche

The Special Committee of the Board of Directors of Genentech, Inc. (NYSE:DNA) today urged Genentech shareholders to take no action at this time with respect to Roche’s revised tender offer to acquire all of the outstanding shares of Genentech stock not owned by Roche at a price of $93 in cash per share. Currently, Roche owns approximately 55.8% of the outstanding shares of Genentech.

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Filed under: Pharma Industry on March 11th, 2009