Roche opens door to raising Ventana offer - report UPDATE |
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Thu, 12 Jul 2007 07:12
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(updates with report Roche may raise offer; recasts headline, lead)PHOENIX Thomson Financial - Roche has opened the door to raising its 75 usd per share offer for Ventana Medical Systems Inc if the US diagnostics company gives it access to internal information, the Financial Times reported.Hours after Ventana CEO Christopher Gleeson criticised Roche for what he considers an inadequate bid, his counterpart at the Swiss drug maker, Franz Humer, held out the possibility of raising it.The newspaper quoted a letter to Ventana chairman Jack Schuler, in which Humer stated: 'To the extent that you believe that Ventana has additional information that would support a valuation in excess of our offer, we would be willing to consider it in a negotiation with you.'Gleeson said earlier that the company had decided to 'vigorously resist' Roche's current offer and urged shareholders not to sell.However, 'if we were to receive a new proposal, we'd evaluate it accordingly,' he said in an interview with The Associated Press.Roche's offer will expire at midnight on July 26, unless extended.Ventana closed yesterday up 2.8 pct at 82.53 usd.tf.TFN-Europe_newsdesk@thomson.comjlw/jmsCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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Roche complains about takeover target Ventana's proposed share issue 