Roche/DNA – Can We Consummate This Thing Already?
March 10, 2009 at 8:28 pm EST | Tags: Gossip & Rumors, Investors, Mergers & AcquisitionsAyyyyy, this is starting to frustrate the hell out of us! When is the deal gonna happen already?! It’s like seeing a couple on-screen with all this sexual tension. Just do the deed damn it! You know they want each other…get it over with!
Some people of course are more politically correct. Andy Smith, fund manager at Axa Framlington Biotech, where Genentech makes up about 4 percent of $65 million in assets told Reuters:
“For me, whether it’s $93 or $95, I think our job as investors is done. I expect Genentech to be acquired by Roche within the next month or so.”
And yet more words from Orbimed’s Isaly:
“I once said that I wanted $140 but that was before the market came down. We would be unlikely to tender at $93, but every couple dollars makes it more likely that we would part with our stock.”
Orbimed has about 3 million shares of DNA at stake.
On the opposite side is the rumor that Roche’s low-balling and hostile tactics has PO’ed DNA employees to the point where future morale could suffer, and in-turn sour the deal. Finally, a source close to Roche said it would be willing to pay as much as $105 per share to seal the deal.
IguanaBio says: Who gives a f*$! Let’s do this already!!!




