Roche extends Ventana offer again
Swiss drug major Roche has extended its offer to acquire all the outstanding shares of USA-based diagnostic instrument maker Ventana Medical Systems. The move, which sets a deadline of September 20, is the second time that the Swiss company has extended the offer this month (Marketletter August 6).
Roche first made the tender offer on June 27, seeking to acquire all of Ventana's outstanding common shares for $75.0 each, representing a 44% premium on the $51.95 per share closing price on June 22.
At present, Roche holds 13,430 of the estimated 34 million Ventana shares. The latter's price rose $0.11 to $82.38 on the day of the news, August 21, before gaining a further $0.13 in after hours trading.
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