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Ventana holds firm against third extension of Roche bid:

This article was originally published in Clinica

Executive Summary

Ventana Medical Systems has remained steadfast in its opposition of Roche's hostile takeover despite the tender offer being extended until November 1. Ventana issued a statement saying: "This is now the third time that Roche has extended its offer, one which we have previously said is grossly inadequate and one that substantially all of our investors have rejected repeatedly". The previous extension was due to expire on September 20 (see Clinica No 1271, p 3), at which time only 0.2% of Ventana's 34 million outstanding shares had been tendered to the Swiss drugs giant.

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