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Could Market Turmoil Foil Roches Bid for Genentech?

Posted on September 30, 2008

Despite Genentech s reluctance, the market s belief has been that it s just a matter of time before Roche s proposed acquisition of the biotech star comes to fruition at a price higher than Roche originally offered.But turmoil in the financial markets is shaking some investors confidence. Shares of Genentech have fallen below Roche s offer of $89 a share to acquire the rest of the company, as notice after reading a Reuters story today. (Genentech s shares fell even further later, with the rest of the market, as votes mounted in the House of Representatives against the govern...

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