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news.Ventana Medical Systems has rejected Roche's unsolicited $3 billion tender offer, deeming the bid to be inadequate and contrary to the best interests of the company's stockholders.
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The Ventana board is now urging stockeholders not to tender any of their shares to Roche.
The cancer diagnostics firm says it will “vigorously resist” Roche’s attempt to acquire it at the $75 per share cash offer.
“Roche’s offer does not come close to adequately compensating Ventana stockholders,” commented Ventana’s president and CEO Christopher Gleeson in a statement.