Roche to buy rest of Genentech for $46.8B - South Florida Business Journal:

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billion, ending a takeover fight that went on for nearltyeight months. The Swiss drug maker close d the deal witha $95-a-share offer, up from the $93-a-shars offer it made March 6 for San Francisco-baseed Genentech (NYSE: DNA). Roche has now come full circleswith Genentech, which it once owned outright afte paying $2.1 billion. It cut its stake to 56 percengt in a series of steps about a decade Genentech has developed allof Roche's best-selliny cancer drugs. Roche said it expectsd to savebetween $750 million and $850 million by reducint complexity and eliminating duplicatio n in functions and processes but said job cuts aren't the focuss of the deal.
The Roche-Genentech deal follows a series of big pharmaceuticalk mergers that are rearrangingthe industry, including 'e (NYSE: MRK) $32.6 billion agreement earliet this week to acquire (NYSE: SGP) and 'w (NYSE: PFE) $68 billionn agreement in January to take over WYE).