Roche nears completion of Memory acqusition
This article was originally published in Scrip
Roche's wholly owned subsidiary 900 North Point Acquisition Corporation has accepted all shares validly tendered and not withdrawn pursuant to its tender offer for all outstanding shares of Memory Pharmaceuticals' common stock at $0.61 per share in cash. Around 73,169,195 shares of Memory's common stock were tendered in the offer and not withdrawn, representing approximately 89% of Memory's outstanding shares. Roche now intends to complete the acquisition through a merger as soon as practicable.