NEW YORK (GenomeWeb News) – Roche said today that it has completed the tender offer for Ventana’s outstanding shares and that it expects to wrap up the acquisition of the firm later today “without a vote or meeting of Ventana’s shareholders.”
Roche said that its wholly owned subsidiary Rocket Acquisition Corporation has purchased 34,545,323 shares of Ventana common stock, representing approximately 93.7 percent of the company’s outstanding shares. The total value of the purchase is around $3.4 billion.
Following the merger, all Ventana shares not owned by Roche and its subsidiaries will be converted into the right to receive the same cash consideration that was paid in the tender offer.
"Ventana broadens Roche's diagnostic offerings and complements Roche's strong existing position in in vitro diagnostic systems,” said Franz Humer, chairman and CEO of Roche, in a statement. “Incorporating Ventana will enhance our position as the world's leading, personalized healthcare company."