Roche Completes Takeover of Genentech

BASEL, Switzerland -- Swiss pharmaceutical giant Roche said Thursday it has completed its $46.8 billion takeover of California biotech firm Genentech(DNA Quote).

Roche, which already held 55.7% of Genentech stock, said it acquired a further 37.5% of shares by the offer deadline on Wednesday.

Roche said it has been guaranteed the transfer of a further 3% of Genentech shares in the coming days, taking its total holding to 96.2% and allowing the two companies to undergo a short-form merger. ...