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Business
Genentech And CV Play Hardball
by Lisa M. Jarvis
March 2, 2009
| A version of this story appeared in
Volume 87, Issue 9
Genentech has told shareholders to reject Roche's $42 billion bid for the 44% of Genentech that Roche does not already own. Last month, Roche lowered its offer from $89.00 per share to $86.50, a price that Genentech says "substantially undervalues" the company. In a separate move, CV Therapeutics' board of directors has rejected a $1 billion takeover offer from the Japanese drug firm Astellas Pharma. CV says the price is too low and that it has its own plan to increase shareholder value.
The power is now in your (nitrile gloved) hands
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