Healthcare Industry News: Ventana
News Release - June 26, 2007
Ventana Advises Shareholders to Defer Taking Any Action in Response to Roche OfferTUCSON, Ariz.--(HSMN NewsFeed)--The Board of Directors of Ventana Medical Systems (NASDAQ: VMSI ) today recommended that its shareholders take no action at this time in response to the announcement by Roche that it will make an unsolicited tender offer to acquire all outstanding shares of Ventana for $75.00 in cash per common share. Consistent with its fiduciary duties, and in consultation with its independent financial and legal advisors, the company's Board will review and consider Roche's offer and, following the commencement of the tender offer, will make a recommendation to shareholders within 10 business days.
Merrill Lynch & Co. is acting as financial advisor and Sidley Austin LLP is acting as a legal advisor to Ventana.
Ventana develops, manufactures, and markets instrument/reagent systems that automate slide preparation and staining in clinical histology and drug discovery laboratories worldwide. Ventana's clinical systems are important tools used in the diagnosis and treatment of cancer and infectious diseases. Ventana's drug discovery systems are used to accelerate the discovery of new drug targets and evaluate the safety of new drug compounds.
Visit the Ventana Medical Systems, Inc., website at www.Ventanamed.com.
Source: Ventana Medical Systems
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