BASEL (Thomson Financial) - Roche will seek around $30-35 million of
external funding to part-finance the company's buyout of minority shareholders
in its U.S. affiliate Genentech, said Chief Financial Officer Erich Hunziker.
The balance of around $10 million of the $43.7 billion transaction will come
from the company's own resources, Hunziker told a news conference.
He added that he expects ratings agencies to downgrade Roche's debt as a
result of the deal.
Roche announced the $89-per-share cash offer for the outstanding 44.1
percent of the San Francisco-based biotechnology company earlier Monday.
tf.TFN-Europe_newsdesk@thomsonreuters.com
jms
COPYRIGHT
Copyright Thomson Financial News Limited 2008. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content,
including by framing or similar means, is expressly prohibited without the prior
written consent of Thomson Financial News.
|