ABC Money
Home

Roche opens door to raising Ventana offer - report UPDATE


Published :
Thu, 12 Jul 2007 07:12
By : Agencies
Print this Story


AddThis Social Bookmark Button

(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.com

jlw/jms

COPYRIGHT

Copyright 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.




Share on


 You Might Like
Roche complains about takeover target Ventana's proposed share issue
Ventana deal driven by strategic goals, not synergies - Roche CEO
+
Ventana's board rejects Roche's 3 bln usd offer as inadequate

Comment on this Article
Comment:
Title:
Name:
Please Enter
 
Here
  

 Search News

 Look For
Business
Credit cards
Finance
Loans
Money
Mortgages

 
 Stock Quotes *
SYMBOL
LAST
CHANGE
DOW JONES
10340.69
-107.24 ( -1.03 %)
NASDAQ
2792.28
22.57 ( 0.81 %)
FTSE 100
5741.15
38.78 ( 0.68 %)

SYMBOL ( 2012-01-19 )
LAST
CHANGE
STANDARD CHARTERED ( 11:35am )
1559.00
70.00 ( 4.76 %)
WOLSELEY PLC ( 11:35am )
2250.00
70.00 ( 3.20 %)
CARNIVAL ( 11:35am )
2017.00
46.00 ( 2.42 %)
LAND SECURITIES GROUP ( 11:35am )
679.50
36.50 ( 5.63 %)
WHITBREAD ( 11:35am )
1662.99
33.99 ( 2.09 %)

SYMBOL ( 2012-01-19 )
LAST
CHANGE
3M COMPANY ( 12:34pm )
85.78
0.71 ( 0.83 %)
BOEING CO ( 12:34pm )
75.70
0.64 ( 0.85 %)
JP MORGAN CHASE CO ( 12:34pm )
37.03
0.49 ( 1.33 %)
WAL MART STORES ( 12:34pm )
60.44
0.43 ( 0.72 %)
IBM ( 12:34pm )
181.50
0.43 ( 0.24 %)

SYMBOL ( 2012-01-19 )
LAST
CHANGE
F5 NETWORKS INC ( 12:11pm )
122.38
13.92 ( 11.80 %)
ICO GLOBAL COMM CL A ( 8:01pm )
99999999.99
9.37 ( 366.02 %)
PRICELINECOM INC ( 12:23pm )
525.40
6.57 ( 1.26 %)
AMAZONCOM INC ( 12:04pm )
195.65
6.21 ( 3.25 %)
MILLICOM INTERNATIONAL CELLULAR SA ( 4:00pm )
110.18
4.82 ( 4.43 %)

Gainers & Losers
Dow Jones
Euro Stoxx 50
FTSE 100
FTSE 250
FTSE AIM
FTSE ALL
Nasdaq

 Portfolio Manager

You must log in to access this area of the site. If you are not a registered user click here to sign up for instant access!


 Finance Explained

Money making ideas

Save money

Money management
Savings accounts
Investing money
Share dealing
Stock broker
Forex currency trading
Pension plans
Functions of Money

(c) 2007 ABCmoney.co.uk, All Rights Reserved
*ABCMoney.co.uk does not guarantee the accuracy of any share prices or stock quotations displayed. These are not real time quotes; all are delayed by at least twenty minutes and are for information purposes only.