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Roche acquires remaining Genentech shares

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BASEL, Switzerland, and SOUTH SAN FRANCISCO, Calif. — After months of negotiations, Roche has completed its acquisition of Genentech, purchasing the remaining shares of the biotechnology company for $95 per share, at a total of $46.8 billion, according to a joint press release from the companies.

The deal is pursuant to a short-form merger that renders Genentech a member of the Roche Group, the release said.

"Genentech's common stock will no longer be traded on the New York Stock Exchange after Thursday, March 26," the release said.

Roche made the acquisition announcement the same day that its tender offer for the company expired. Subject to appraisal rights, public shareholders who still own Genentech stock will be bought out, the release said.

Roche is acquiring the remaining 44% of Genentech shares that it did not own.