Ventana Medical Systems Inc, Tucson, Ariz, a leader in tissue-based cancer diagnostics, today issued the following statement regarding Roche’s decision to extend its unsolicited tender offer to acquire all outstanding shares of Ventana for $75 in cash per common share:
"We remain steadfast in our position that Roche’s offer is wholly inadequate and our board of directors continues to recommend that stockholders not tender any of their shares to Roche. Roche’s offer remains significantly below our current stock price, even with the recent tumultuous market conditions, proving that the market agrees that the offer fails to reflect the inherent value of the company, its steady growth momentum, and the magnitude of the synergies that would be unlocked in a combination with Roche.”
