Ventana poised to join Roche
This article was originally published in Clinica
Executive Summary
Roche has secured 94% of the shares of Ventana Medical Systems, following the expiration of the tender offer period last week for the Tucson, Arizona-based cancer diagnostics company. A Roche spokesperson told Clinica that the Swiss drugs group is currently in the process of acquiring the remaining shares through a short-form merger. This will be carried out without a vote or meeting with Ventana's shareholders, said Roche. On completion of the acquisition, Ventana's shares will cease trading on the Nasdaq. Roche had endured Ventana's repeated rebuffs for seven months before succeeding in winning over the latter with a sweetened $89.50-per-share offer (see Clinica No 1291, p 3).
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