NEW YORK AP - Biotechnology giant Genentech Inc. rejected a $43.7 billion buyout offer from its majority owner Roche on Wednesday but said it is open to a higher takeover bid.The rejection comes nearly a month after Swiss drug developer Roche offered $89 per share for the rest of South San Francisco, Calif.-based Genentech.
August 14, 2008 at 12:00 AM
1 minute read
NEW YORK AP – Biotechnology giant Genentech Inc. rejected a $43.7 billion buyout offer from its majority owner Roche on Wednesday but said it is open to a higher takeover bid.
The rejection comes nearly a month after Swiss drug developer Roche offered $89 per share for the rest of South San Francisco, Calif.-based Genentech. Roche already owns about 55.9 percent of the company.
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