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news.Roche Holdings is taking Ventana Medical Systems to court over its attempt to block the Swiss group's hostile takeover bid.
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Roche is filing a formal complaint against the US firm’s “poison-pill” defense provision to issue new shares at half price to its shareholders if Roche buys 20% of the company.
In June, Roche made an unsolicited $3-billion bid at $75 per share in cash to acquire Ventana after efforts to negotiate a friendly merger were rebuffed.
Roche says it remains ready to negotiate an amicable agreement with Ventana.