|Articles|March 12, 2009

Roche closes $46.8 billion Genentech deal

Zurich, Switzerland - Roche Holding AG has sealed a deal with Genentech to buy the 44 percent of the company that it doesn't already own for $95 a share, CNNMoney.com reports.

Zurich, Switzerland

- Roche Holding AG has sealed a deal with Genentech to buy the 44 percent of the company that it doesn't already own for $95 a share, CNNMoney.com reports.

This agreement ends an eight-month battle, in which Genentech repeatedly rejected Roche’s offer. The price was negotiated from $93 per share to $95, which a Genentech board member says is a fair offer to shareholders, according to CNNMoney.com.

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