Broker Center sponsored links

Genentech board committee reviewing Roche offer

Thu Jul 24, 2008 6:46pm EDT
 
Email | Print | | Reprints | Single Page
[-] Text [+]

LOS ANGELES, July 24 (Reuters) - Genentech Inc (DNA.N: Quote, Profile, Research, Stock Buzz) said it has formed a special committee composed of its three independent directors to assess the proposal from Roche AG (ROG.VX: Quote, Profile, Research, Stock Buzz) to acquire the shares of Genentech it does not already own.

The special committee members are Herbert Boyer, Debra Reed and Charles Sanders, Genentech said on Thursday.

"The special committee intends to proceed in a timely manner to review the Roche proposal, which was both unsolicited and unexpected. The outcome of this process has not been predetermined, and there can be no assurance that the special committee will approve any transaction with Roche," Sanders said in a statement. (Reporting by Deena Beasley; Editing by Tim Dobbyn)

 

Featured Broker sponsored link

Editor's Choice

  • Pictures
  • Video
  • Articles
Photo

A selection of our best photos from the past 24 hours.  View Slideshow 

Most Popular on Reuters

  • Articles
  • Video
  • Recommended