Roche Buys US Diagnostics Firm Ventana

Roche Holding AG said Tuesday it will acquire U.S.-based medical diagnostics maker Ventana Medical Systems Inc. for $3.4 billion

The companies reached the deal after Roche raised its offer by about 19 percent per share to $89.50 (62.08 euros) from $75 (52.02 euros), the Swiss pharmaceuticals company said.

Ventana's board of directors, which had previously rejected Roche's advances, will recommend that shareholders accept the offer, according to a joint statement by the two companies.

Ventana will keep its headquarters in Tucson, Arizona, while its chief executive, Christopher Gleeson, will join the board of Roche's diagnostics division, the statement said.

Read Full Article from Houston Chronicle

- Posted: 2008-01-22 09:40:24

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