Swiss drugmaker Roche Holding AG (ROG.VX) said Thursday it holds 93.2% of Genentech Inc. (DNA) shares following the completion of its tender offer, with 3%more guaranteed for delivery.

The Basel-based company said it will merge as "soon as practical", after which the remaining shareholders will be squeezed out and Genentech shares will cease trading.

Roche first launched a bid on the 44% of Genentech shares it didn't already own in July, 2008, offering $89/share which the U.S. biotech firm snubbed as too low. Roche lifted its takeover offer to $95/share earlier this month, which Genentech recommended its stockholders to accept.

Roche shares closed at CHF148.80 Wednesday.

Company Web Site: http://www.roche.com

-By Hans Schoemaker, Dow Jones Newswires; +41-43-4438045; hans.schoemaker@dowjones.com