Navigation Links
Roche Increases Offer Price for Genentech Shares to US$ 93.00 per Share and Extends Offer
Date:3/6/2009

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) 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.

About Roche

Headquartered in Basel, Switzerland, Roche is one of the world's leading research-focused healthcare groups in the fields of pharmaceuticals and diagnostics. As the world's biggest biotech company and an innovator of products and services for the early detection, prevention, diagnosis and treatment of diseases, the Group contributes on a broad range of fronts to improving people's health and quality of life. Roche is the world leader in in-vitro diagnostics and drugs for cancer and transplantation, and is a market leader in virology. It is also active in other major therapeutic areas such as autoimmune diseases, inflammatory and metabolic disorders and diseases of the central nervous system. In 2008 sales by the Pharmaceuticals Division totalled 36.0 billion Swiss francs, and the Diagnostics Division posted sales of 9.7 billion francs. Roche has R&D agreements and strategic alliances with numerous partners, including majority ownership interests in Genentech and Chugai, and invested nearly 9 billion Swiss francs in R&D in 2008. Worldwide, the Group employs about 80,000 people. Additional information is available on the Internet at www.roche.com.

    Roche Group Media Relations
    Phone: +41-61 688 8888 / e-mail: basel.mediaoffice@roche.com
    - Daniel Piller (Head)
    - Alexander Klauser
    - Martina Rupp
    - Claudia Schmitt

    Brunswick Group (for US media)
    Phone: +1-212 333 3810
    - Jennifer Lowney

    MacKenzie Partners, Inc. (for Genentech Investors):
    Phone: +1 212 929 5500
    - Dan Burch
    - Bob Marese

Cautionary Statement Regarding Forward-Looking Statements

THIS PRESS RELEASE CONTAINS CERTAIN FORWARD-LOOKING STATEMENTS. THESE FORWARD-LOOKING STATEMENTS MAY BE IDENTIFIED BY WORDS SUCH AS "BELIEVES", "EXPECTS", "ANTICIPATES", "PROJECTS", "INTENDS", "SHOULD", "SEEKS", "ESTIMATES", "FUTURE" OR SIMILAR EXPRESSIONS OR BY DISCUSSION OF, AMONG OTHER THINGS, STRATEGY, GOALS, PLANS OR INTENTIONS. VARIOUS FACTORS MAY CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY IN THE FUTURE FROM THOSE REFLECTED IN FORWARD-LOOKING STATEMENTS CONTAINED IN THIS PRESS RELEASE, INCLUDING AMONG OTHERS: (1) PRICING AND PRODUCT INITIATIVES OF COMPETITORS; (2) LEGISLATIVE AND REGULATORY DEVELOPMENTS AND ECONOMIC CONDITIONS; (3) DELAY OR INABILITY IN OBTAINING REGULATORY APPROVALS OR BRINGING PRODUCTS TO MARKET; (4) DEVELOPMENTS IN FINANCIAL MARKET CONDITIONS, INCLUDING THE MARKET FOR ACQUISITION FINANCING AND OTHER CAPITAL MARKETS AND FLUCTUATIONS IN CURRENCY EXCHANGE RATES; (5) UNCERTAINTIES IN THE DISCOVERY, DEVELOPMENT OR MARKETING OF NEW PRODUCTS OR NEW USES OF EXISTING PRODUCTS, INCLUDING WITHOUT LIMITATION NEGATIVE RESULTS OF CLINICAL TRIALS OR RESEARCH PROJECTS AND UNEXPECTED SIDE-EFFECTS OF PIPELINE OR MARKETED PRODUCTS; (6) INCREASED GOVERNMENT PRICING PRESSURES OR CHANGES IN THIRD PARTY REIMBURSEMENT RATES; (7) INTERRUPTIONS IN PRODUCTION; (8) LOSS OF OR INABILITY TO OBTAIN ADEQUATE PROTECTION FOR INTELLECTUAL PROPERTY RIGHTS; (9) LITIGATION; (10) POTENTIAL DIFFICULTIES IN INTEGRATING THE BUSINESSES OF GENENTECH AND ROCHE, AND THAT SOME OR ALL OF THE ANTICIPATED BENEFITS OF THE PROPOSED TRANSACTION MAY NOT BE REALIZED ON THE SCHEDULE CONTEMPLATED OR AT ALL; (11) THAT FUTURE DIVIDENDS ARE SUBJECT TO THE DISCRETION OF THE BOARD OF DIRECTORS OF ROCHE AND GENENTECH, AS APPLICABLE, AND A NUMBER OF OTHER FACTORS, SOME OF WHICH ARE BEYOND THE CONTROL OF ROCHE; (12) THE ABILITY OF ROCHE TO GENERATE CASH FLOW TO, AMONG OTHER THINGS, REPAY ACQUISITION-RELATED DEBT AS CURRENTLY CONTEMPLATED; (13) LOSS OF KEY EXECUTIVES OR OTHER EMPLOYEES; AND (14) ADVERSE PUBLICITY AND NEWS COVERAGE.

ADDITIONAL INFORMATION AND WHERE TO FIND IT

THIS ANNOUNCEMENT IS FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSTITUTE AN OFFER TO PURCHASE OR A SOLICITATION OF AN OFFER TO SELL GENENTECH COMMON STOCK. THE TENDER OFFER IS BEING MADE PURSUANT TO A TENDER OFFER STATEMENT ON SCHEDULE TO (INCLUDING THE OFFER TO PURCHASE, LETTER OF TRANSMITTAL AND OTHER RELATED TENDER OFFER MATERIALS) FILED BY ROCHE WITH THE SECURITIES AND EXCHANGE COMMISSION (SEC) ON FEBRUARY 9, 2009, AS AMENDED. WE WILL FILE A FURTHER AMENDMENT WITH THE SEC TODAY CONTAINING MORE INFORMATION ON OUR REVISED OFFER. THESE MATERIALS, AS THEY MAY BE AMENDED FROM TIME TO TIME, CONTAIN IMPORTANT INFORMATION, INCLUDING THE TERMS AND CONDITIONS OF THE OFFER, THAT SHOULD BE READ CAREFULLY BEFORE ANY DECISION IS MADE WITH RESPECT TO THE TENDER OFFER. INVESTORS AND SECURITY HOLDERS MAY OBTAIN A FREE COPY OF THESE MATERIALS AND OTHER DOCUMENTS FILED BY ROCHE WITH THE SEC AT THE WEBSITE MAINTAINED BY THE SEC AT WWW.SEC.GOV. THE OFFER TO PURCHASE AND RELATED MATERIALS MAY ALSO BE OBTAINED FOR FREE BY CONTACTING THE INFORMATION AGENT FOR THE TENDER OFFER, MACKENZIE PARTNERS, AT (212) 929-5500 OR (800) 322-2885 (TOLL-FREE).


'/>"/>
SOURCE Roche
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Rochester Medical Renews Share Repurchase Activity
2. Access Pharmaceuticals Closes Acquisition of MacroChem Corp.
3. University of Rochester Launches iTraining for Emergency Responders
4. Roche Announces Significant Price Reduction of Two ACCU-CHEK(R) Glucose Monitoring Kits to Help Customers With Diabetes During These Difficult Economic Times
5. Rochester Medical Reports First Quarter Results
6. Rochester study raises new questions about controversial plastics chemical
7. University Medical Pharmaceuticals Appoints Tom Roche as Senior Vice President, Global Sales and Marketing
8. Rochester Medical Announces First Quarter 2009 Earnings Conference Call February 2, 2009
9. Rochester Medical Announces Settlement With TYCO Healthcare Group, L.P., Now Operating as Covidien Ltd.
10. Growth Opportunities for Actemra Will Propel Roche to Sixth Position in the Rheumatoid Arthritis Market by 2012
11. Roche Offers Fun Experience with ACCU-CHEK(R) Aviva Through New Rock My Meter Website
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:7/20/2017)... ... 20, 2017 , ... The Business Architecture Guild® is pleases ... Guide )v 6.0 is now available for member download. This release is dedicated ... , Non-members may download the Part 1 Introduction for free at ...
(Date:7/20/2017)... NC (PRWEB) , ... July 20, 2017 , ... LINET, ... the latest innovation to their product line: the AVE 2 birthing bed. , Perfectly ... helps bring a new level of comfort and efficiency to every phase of childbirth. ...
(Date:7/20/2017)... ... July 19, 2017 , ... At Creekwood Dental Arts, Drs. Donna G. ... treatment and dental implants in Waco, TX, using the latest dental technology ... by Tekscan®, they can capture details in the oral cavity for accurate diagnoses and ...
(Date:7/20/2017)... ... July 19, 2017 , ... Adolfson & Peterson ... manager, Josh Christensen. As a leader in healthcare construction, AP has successfully built ... resume in the Midwest with Josh now on board. , Josh brings ...
(Date:7/20/2017)... ... ... “Fidget”: a fun-filled, action-packed memoir of adventures. “Fidget” is the creation of ... who was a summa cum laude graduate of Gardner Webb University. She has won ... her retirement from public school, Lynn continued to pursue her love for music through ...
Breaking Medicine News(10 mins):
(Date:7/11/2017)... , July 11, 2017 Zymo Research Corp., also known ... that can quantify biological aging in a precise manner using the myDNAge ... Steve Horvath , a professor of human genetics and biostatistics at the ... School of Public Health , Zymo Research,s proprietary DNAge ™ technology ... ...
(Date:7/11/2017)... 11, 2017 Oramed Pharmaceuticals Inc. (NASDAQ: ... company focused on the development of oral drug delivery ... Administration (FDA) has agreed to schedule an End-of-Phase II ... trial of its oral insulin capsule ORMD-0801 in the ... met primary and secondary endpoints by indicating a statistically ...
(Date:7/10/2017)... 2017 Locus Biosciences Inc. today announced the ... development of CRISPR-Cas3 antimicrobial therapeutics. Financing for the round ... Internet services provider, and joined by the North Carolina ... product programs targeting antibiotic resistant infections and other microbiome-related ... Dr. Rodolphe Barrangou and Dr. Charles ...
Breaking Medicine Technology: