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Roche takes majority stake in cancer profiling firm Foundation Medicine; later buys the rest

Executive Summary

Roche acquired the majority stake--52.4% (56.3% on a fully diluted basis)--of publicly traded Foundation Medicine Inc. (FMI; tumor genomic analysis) for $1.03bn, or 20.6mm shares for $50 (a 118% premium). The primary investment consists of 5mm shares, followed by a tender offer for 15.6mm shares. Three Roche representatives will join FMI’s board on deal closing, while FMI will continue to operate independently and retain its management team.

Deal Industry
  • In Vitro Diagnostics
  • In Vitro Diagnostics
    • Molecular Diagnostics & Genetic Testing
  • Biotechnology
    • Pharmacogenetics-Pharmacogenomics
    • Drug Discovery Tools
      • Bioinformatics
      • Genomics-Proteomics
Deal Status
  • Final
Deal Type
  • Acquisition
    • Includes Contract
    • Partial Acquisition
    • Payment Includes Cash

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