NEW YORK (GenomeWeb) – Roche today announced the final results of its tender offer to purchase up to 15.6 million shares of common stock of Foundation Medicine at $50 per share, after disclosing preliminary results last week.
Foundation Medicine shareholders tendered a total of nearly 18.8 million shares of common stock. Because the offer was oversubscribed, Roche will accept 83.2 percent of shares offered by each tendering stockholder for purchase.
Roche now owns about 21 million shares of Foundation Medicine, including shares it already owned before the tender offer and 5 million newly issued shares it purchased for $50 per share last week. In total, these represent approximately 57 percent of Foundation's outstanding common stock on a fully diluted basis as of April 7.