Roche buying DNA Genentech

Roche has offered to buy the rest of Genentech DNA for 43.7 Billion dollars. As you might know already, Roche already owns a 55.9 percent stake in DNA.

The Swiss drug maker Roche is offering $89 per share for the remaining DNA shares.

Genentech is trading above $96 in pre market so far this morning so it looks like their could be a taken over battle here. The market is pricing in a higher takeover price.

On another note, Merck MRK is postponing earnings until tonight at 4pm.