Genentech Drops The Other Shoe

This post was commissioned on August 13, 2008, and it was categorized as M&A.

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We all knew it was just a matter of time until the “special committee” appointed to review the Roche officially rejected the buyout offer of $89/share.

The press release indicates a willingness to listen to offers that “recognizes the value of the company and reflects the significant benefits that would accrue” to an acquiring company.

Move along folks, nothing to see here.

I’m calling $103/share.

Any guesses as to whether Roche will up the bid? By how Much?

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This post was constructed by

Eben Tessari

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Eben is a highly caffeinated business development associate at a small, cash sensitive pharmaceutical company somewhere in Massachusetts. He enjoys cliche-less banter, compartmentalization, non-equilibrium thermodynamics and NPV analysis. Agree or disagree with what he's posted? He encourages comments.

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