Roche goes hostile, cuts Genentech bid to $42 billion (Reuters)

A general view shows the headquarters of Swiss drugmaker Roche in Basel in this July 21, 2008 file picture. Roche cut the price of its bid for outstanding shares in Genentech, going hostile and dashing investor hopes of a sweetened offer for the 44 percent of the U.S. biotech group it does not already own. (Christian Hartmann/File/Reuters)Reuters – Roche cut its offer for Genentech Inc, launching a hostile bid which dashed investor hopes of a sweetened offer for the 44 percent of the U.S. biotech group its does not already own.

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