Roche tender offer for Ventana now expected to end in January

By Lisa Kerner

Charlotte, N.C., Oct. 29 - Roche once again extended the deadline in its $75-per-share tender offer for Ventana Medical Systems, Inc. that began on June 27. The offer is now set to expire at 5 p.m. ET on Jan. 17, pushed back from the previous expiration date of Nov. 1.

All other terms and conditions of the tender offer remain unchanged, a company news release stated.

Some 63,711 shares had been tendered as of the close of business on Monday.

It was previously reported that the offer deadline was extended from Sept. 20 to Nov. 1 and that at one time the offer was slated to end July 26.

Ventana's board had rejected the offer, calling it "inadequate" and "contrary to the best interests" of its shareholders. Roche, for its part, claimed its $3 billion offer is "full and fair" and said it is committed to bringing the two companies together.

Ventana is a medical device company located in Tucson, and Roche is a Basel, Switzerland-based pharmaceutical and diagnostics company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.