Tuesday, January 22, 2008
Ventana Medical Acquired By Roche For $3.4B
Roche, a Swiss-based manufacturer of pharmaceuticals and diagnostics, announced Tuesday that it has agreed to acquire Ventana Medical Systems of Tucson, Ariz., for $89.50 per share of common stock. Roche said the amount represents a 4.5 percent premium added to Ventana’s Jan. 18 closing price and, on a fully diluted basis, calculates to a total of some $3.4 billion. Roche added that both boards have approved the definitive merger agreement and that Ventana's board will recommend that Ventana's shareholders tender their stock to Roche. Headquartered in Basel, Switzerland, Roche said the acquisition of Ventana will enable it to broaden its diagnostic offerings by bolstering its in-vitro diagnostic systems and oncology therapies. Ventana manufactures histopathology, or tissue-based, diagnostics systems.