Roche has upped its offer for Genentech to $93 a share, believing that this will be sufficient to bring the drawn out takeover to a close.
The bid is still a long way short of the $112 that Genentech is alleged to have valued itself at, according to a Roche filing with the US Securities and Exchange Commission.
Despite this, and the possibility that positive data from Avastin trials could send Genentech’s share price over $100, Franz Humer, chairman of the Roche Group, is confident the deal will go through.
Genentech has urged shareholders not to act until the Special Committee has taken a formal position, which will happen “promptly”.
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