Genentech's board may be ready to seal the deal after all. Although the company urged shareholders to sit tight after Roche uppeds its bid to $93 a share on Friday, the Wall Street Journal is reporting that the biotech and Roche were in discussions through the weekend. Sources close to the matter tell the WSJ that Roche has again raised its tender offer to $95 a share. A deal could be announced as soon as the close of the trading day.
The new offer values Genentech at $46.7 billion. DNA is currently up 2.4 percent, trading around $92.93.
- check out the WSJ report