Roche Proposes to buy Full Stake in Genentech - Interview With Chairman
LONDON, July 21, 2008 /PRNewswire-FirstCall/ -- Roche, the healthcare company, announced today that it has proposed to acquire the outstanding publicly held interest in biotech company Genentech for US$89.00 per share in cash, or a total payment of approximately US$43.7bn to equity holders of Genentech other than Roche. Roche acquired a majority in Genentech in 1990 and currently owns 55.9% of all outstanding shares.
In a video interview Franz Humer, Roche Chairman, said the two companies had collaborated for over 20 years but it was time to put the partnership "on a new level".
"We are absolutely convinced that it is in the interest of both parties that we acquire the 100 per cent and then structure it in a way that strengthens both sides of the operation."
In the interview Mr Humer looks at how the offer will impact the group structurally and financially and what it means for employees as well as doctors and patients around the world.
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Posted: July 2008