Roche and Foundation Medicine Inc reached a definitive merger agreement on 19 June enabling the Swiss multinational to acquire shares of the US molecular information company that it does not already own.
Roche is to buy the shares at $137 per share in cash giving a total transaction value of $2.4 billion and a total company value of $5.3 billion. This represents a premium of 29% to Foundation Medicine’s closing stock market price on 18 June and a premium of 47% and 68% to the 30-day and 90-day volume weighted average share price on the same day.