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Genentech rallies shareholders against lower buyout offer

This article was originally published in Scrip

Executive Summary

Genentech has urged its shareholders to ignore Roche's $42.5 billion hostile buyout bid, stating that the offer "substantially undervalues" the company. Roche submitted a lowered $86.50 per share offer directly to Genentech's shareholders last week, even though the biotech rejected Roche's original $89 per share in August.

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