Image by Getty Images via DaylifeGenentech Roche Talks Continue
One of the 2008 Fortune Top 100 Great Places to Work has been the subject of acquisition rumors since July. Genentech is being eyed by Roche Holding AG. Roche already holds a large portion of outstanding Genentech stock and would like to acquire the rest.
According to Reuters, Roche is sticking by its $43.7 billion offer to buy out the rest of Genentech that they don't already own.
The Swiss drugmaker, which already holds 56 percent of Genentech, was rebuffed by Genenetech in its attempt to purchase its U.S. biotech partner.
Recent events in the stock market are changing the perspective on the offer. Genentech's share price has fallen below the $89 offer price. There are also concerns mount about Roche's ability to finance the purchase with tighter credit conditions prevailing.