Pharma BD Deal Intelligence

Roche Holding AG / Ventana Medical Systems Inc.

2007 · Acquisition/Merger · $3.4B · Complete

CALLED IT — OFF BY 13

Ventana became the durable backbone of Roche's companion-diagnostics franchise — 17+ years on, still branding the assays that gate access to Roche's own blockbuster oncology drugs.

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The coverage arc

Jun 27, 2007 Roche Schedule TO-T tender offer (Ventana) Bullish

Roche commenced a tender offer to acquire all outstanding common shares of Ventana for $75.00 per share in cash, representing a 44% premium to Ventana's June…

Jan 22, 2008 CNBC Bullish

After a six-month hostile process — Ventana had called the original $75 bid 'grossly inadequate' — Roche raised to $89.50/share and won the board's…

Feb 08, 2008 RTTNews Neutral

Roche held about 70.5% of Ventana shares following expiration of the tender offer at $89.50 per share, and began a subsequent offering period to acquire the…

Source summaries from our enrichment pipeline; follow links for originals.

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Initial $75/share hostile bid June 2007 ($3B); raised to $89.50/share ($3.4B) Jan 2008 to close. Tissue diagnostics. Source: Dark Daily, CNBC, C&EN.

Did it work? Outcome assessment

Ventana became the durable backbone of Roche's companion-diagnostics franchise — 17+ years on, still branding the assays that gate access to Roche's own blockbuster oncology drugs.

Strategic verdict
Achieved Stated Rationale

Key facts

Related deals — scored

DealYearValueOutcome
Roche Holding AG / Ventana Medical Systems Inc. (this deal)2007$3.4B88
Roche Holding AG / Chugai Pharmaceutical Co. Ltd.2002$1.4B100
Roche Holding AG / Ventana Medical Systems Inc.2008$3.4B88
Roche Holding AG / Corange Ltd. (Boehringer Mannheim Group)1997$11.0B88
Roche Holding AG / Foundation Medicine, Inc.2015$1.1B87
Roche Holding AG / Foundation Medicine, Inc.2018$5.3B85
Roche Holding AG / GlycArt Biotechnology AG2005$182M80

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