TUCSON, Ariz. Ventana has responded to Roche’s fifth extension of an offer to acquire all outstanding shares of its company for $75 per share.
“Our Board of Directors continues to recommend that stockholders not tender any of their shares to Roche at this inadequate price. Our discussions with Roche under the confidentiality agreement are progressing, and we remain committed to providing superior value to our investors,” stated Christopher Gleeson, president and chief executive officer of Ventana. Ventana still considers the offer way off compared to its closing yesterday of $86.07.
The two companies continue to talk under a confidentiality agreement that was signed in mid-November, which allowed Roche to have access to non-public information about Ventana, which is suppose to help Roche better understand the company’s business projects.