Ventana Rejects Roche Takeover Offer | Chemical & Engineering News
Volume 85 Issue 29 | p. 16 | Concentrates
Issue Date: July 16, 2007

Ventana Rejects Roche Takeover Offer

Department: Business | Collection: Economy

Ventana Medical System's board of directors is rejecting Roche's $75.00-per-share takeover offer as inadequate and contrary to the best interests of shareholders (C&EN, July 2, page 7). The offer, which values Ventana at $3 billion, represents a 55% premium over Ventana's recent average stock price. But Ventana CEO Christopher Gleeson says the company's new tissue-based testing technologies make it worth far more. Roche says it stands by its offer and may take action to buy the company unilaterally.

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