In its annual meeting with analysts, the company tried to expand on its point the latest $86.50 per share, or $42 billion, hostile bid is too low. The South San Francisco, Calif.-based biotechnology company said as much last week in a regulatory filing when it revealed it believes it could fetch as much as $112 per share.
Switzerland-based Roches initial $89-per-share bid was rejected in July. It then surprised Genentech and Wall Street with the lower $86.50-per-share bid Jan. 30. The hostile tender offer is scheduled to expire March 12.
“We do not believe the offer adequately reflects [...]