Roche’s pursuit of Ventana continues
This article was originally published in The Gray Sheet
Roche will seek election of alternative Ventana board members at the latter firm's next annual shareholder meeting, slated for June 2008, as part of an ongoing effort to acquire the cancer test maker, Roche says Dec. 5. The firms entered into a confidentiality agreement Nov. 13 so that Roche could commence a due diligence review of Ventana's business after Roche initiated a hostile $3 billion takeover offer last June (valued at $75 per share). Ventana rejects the offer as inadequate (1"The Gray Sheet" Nov. 19, 2007, In Brief)
You may also be interested in...
Tissue-based cancer test firm Ventana Medical Systems enters into a confidentiality agreement with Roche, allowing the latter firm to begin a due diligence review with an eye toward potentially acquiring Ventana, the firms announce Nov. 13. However, Ventana still believes Roche's current hostile offer of $3 billion ($75 per share) is "grossly inadequate." Roche initiated the offer in June and renewed it for the fourth time last month (1"The Gray Sheet" Nov. 5, 2007, p. 18). Ventana believes that the due diligence and "related discussions" will allow Roche to recognize the "significant additional value inherent in Ventana's business," potentially resulting in a richer offer. However, the likelihood of a deal remains uncertain, both firms say. Ventana stock closed at $90.08 on Nov. 16
BD and BioMedomics have released a new rapid point-of-care test that can detect antibodies in blood to confirm current or past exposure to COVID-19.
A medtech industry group is asking the Trump administration to clarify if small medical device companies that have equity investors qualify for small business loans and forgiveness under the coronavirus relief package.