Ventana deal driven by strategic goals, not synergies - Roche CEO |
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Tue, 26 Jun 2007 08:34
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ZURICH (Thomson Financial) - Roche Holdings AG's planned takeover of US medical systems supplier Ventana Medical Systems Inc is primarily based on strategic considerations, said Roche chief executive Franz Humer in a telephone conference.'Cost synergies are not the goal in this case. For us, this is above all a strategically important takeover,' he said.Humer said given the strategic importance of Ventana, the premium offered is fair.Roche plans to delist Ventana from Nasdaq if the deal goes through, Humer said.Late yesterday, Roche said it will make a tender offer to acquire all outstanding shares of common stock of Ventana for 75 usd per share in cash, or an aggregate of approximately 3 bln usd.This offer represents a 44 pct premium to Ventana's close of 51.95 usd on June 22, 2007 and a 55 pct premium to its three-month average of 48.30 usd, the Swiss pharma group said.johanna.treeck@thomson.comjmt/jagCOPYRIGHTCopyright 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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