Roche extends offer for Ventana

Roche’s $3 billion hostile bid for Ventana is set to expire on November 1. Roche has said approximately 63,541 shares have been tendered pursuant to the offer. That’s less than 0.2% of the 34 million shares Ventana says it has outstanding.

Ventana said: “This is now the third time that Roche has extended its offer, one which we have previously said is grossly inadequate and one that substantially all of our investors have rejected repeatedly. Ventana is worth significantly more than Roche is offering. We are continuing to build momentum in our core businesses and are increasingly well positioned to capitalize on the significant potential of the emerging field of companion diagnostics and personalized medicine. Our board of directors once again recommends that stockholders not tender any of their shares to Roche.”