NEW YORK (Reuters) - Ventana Medical Systems Inc VMSI.O and suitor Roche Holding AG (ROG.VX: Quote, Profile, Research, Stock Buzz) have engaged in no dialogue regarding Roche's hostile takeover offer as the cancer diagnostics company holds out for a "significantly higher" price, Ventana's chief executive said on Monday.
"The board and our shareholders understand the value of this company. If Roche wished to indicate they know the value of this company and it's higher than $75, then we would talk to them," Ventana Chief Executive Officer Christopher Gleeson said at the Reuters Health Summit in New York.
Gleeson said antibodies in the pipeline for 2010 and beyond that target lung, colon, breast and prostate cancers place the value of the company well above the $75 per share offer now on the table.
"It doesn't leave a good taste when someone goes hostile on you, but at the end of the day, it's business. There's really no issue with Roche," Gleeson said.
(Reporting by Susan Kelly, susan.kelly@reuters.com; editing by Carol Bishopric)
(For summit blog: summitnotebook.reuters.com/)
© Thomson Reuters 2008. All rights reserved.
| Global Environment | Oct 06 - 8, 2008 | Energy |
| Autos II | Sep 30 - Oct 01, 2008 | Hotels/Casinos |
| Restructuring | Sep 22 - 26, 2008 | Financial Services/Exchanges |
| Autos | Sep 15 - 17, 2008 | Autos |
| Russia Investment | Sep 08 - 9, 2008 | Country Summits |
