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Roche's Hostile Bid for Ventana Passes Federal Antitrust Hurdle

NEW YORK (GenomeWeb News) — The US federal anti-trust waiting period has passed on Roche’s hostile takeover bid for Ventana Medical Systems, Roche said today.
  
The expiration of the Hart-Scott-Rodino waiting period satisfies one condition of Roche’s offer, under which it would buy all of Ventana’s outstanding shares for $75 in cash per share, or $3 billion.
 
Roche said the deal still requires the tender of a majority of Ventana's shares of common stock on a fully diluted basis, Ventana's board taking “all necessary actions to make its shareholder rights plan inapplicable to Roche's offer,” and other customary conditions.
 
Earlier this month, Ventana rejected Roche’s offer, calling it “inadequate in multiple respects.” Roche was undeterred, saying that the offer is “full and fair.”

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