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Ventana's board rejects Roche's 3 bln usd offer as inadequate


Published : Wed, 11 Jul 2007 13:05
By : Agencies
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LONDON (Thomson Financial) - The board of directors of Ventana Medical Systems, Inc has announced that it has thoroughly reviewed Roche AG's unsolicited tender offer with the assistance of its financial and legal advisors and unanimously determined that the 75 usd per share -- or 3 bln usd -- cash offer is inadequate in multiple respects and contrary to the best interests of Ventana's stockholders.

Accordingly,the board said it recommends that stockholders not tender any of their shares to Roche.

'This is about stockholder value,' said Jack Schuler, chairman of the board. 'Simply put, we believe that Roche is trying to capture value for its stockholders that rightly belongs to Ventana's stockholders.'

tf.TFN-Europe_newsdesk@thomson.com

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