Roche: now owns 77.3% of Foundation Medicine

(CercleFinance.com) - Roche said that it will now own 77.
3% of the US genomic profiling company Foundation Medicine after completing a tender offer on 30 July.

The Swiss drugmaker had launched a tender offer for all outstanding shares of Foundation Medicine at a price of 137 dollars, valuing the company at 5.3 billion dollars.

The offer's duration was not extended.

Roche now plans to promptly complete the acquisition of Foundation Medicine through a merger. After this completion, FMI will become a wholly-owned subsidiary of Roche and its shares will cease to be traded on the Nasdaq, it said.

Copyright (c) 2018 CercleFinance.com. All rights reserved.