Roche Adds to Its Offer to Purchase Genentech

The Swiss drug giant Roche raised the price of its hostile offer to buy out the biotechnology company Genentech on Friday to $93 a share, from $86.50. Analysts said the new price was likely to entice many more Genentech shareholders to tender their shares.

Roche also extended its offer to shareholders by a week, until March 20. Genentech has already urged its shareholders to reject the $86.50-a-share bid, saying Genentech is worth $112 a share. Franz B. Humer, the chairman of Roche, said in an interview on Friday that the new offer was made to speed the process after conversations the company had with Genentech shareholders.

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