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(Revised from original 2010 version)
Roches Acquisition of Genentech
Franz Humer, CEO of the Roche Group, must decide whether to mount a hostile tender offer for the publicly-owned shares of Roche's biotechnology subsidiary, Genentech. The case provides opportunities to analyze Roche's strategy with respect to Genentech, the pros and cons of merging the two companies with different cultures, the value of Genentech, and the tactics of a hostile tender offer.
Keywords: Mergers and Acquisitions;
Baldwin, Carliss Y., Bo Becker, and Vincent Marie Dessain. "Roches Acquisition of Genentech." Harvard Business School Case 210-040, September 2011. (Revised from original February 2010 version.)