(Reuters) - Swiss drug maker Roche Holding AG plans to acquire a majority stake in U.S.-based molecular and genomic analysis firm Foundation Medicine Inc by buying a combination of outstanding and newly issued shares, the companies said on Monday.
Roche said it will tender for around 15.6 million Foundation shares at $50 a share, worth up to about $780 million, a premium of 109 percent to their Friday closing price. Roche will also invest $250 million in Foundation by acquiring 5 million newly issued shares at $50 per share.
16:37 Fitbit acquires software assets from rival Pebble13
14:31 Lost Christmas parcels 'prompt two-and-a-half-hour hunt'16
14:49 Trump warns of ‘retribution’ for companies that offshore jobs, threatening 35 percent tariff19
18:05 DP World, Quebec's Caisse to create C$5 billion investment vehicle21