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Roche buys Igen, spins off new company
07 Aug 2003
Executive Summary
In a $1.4bn deal that will settle years of ongoing litigation between the companies, Roche will acquire Igen for $47.25 a share (a 41% premium to current market average). It intends to later spin out a new company, Igen Integrated Healthcare LLC, which will be 100% owned by Igen's stockholders (they get one share of Igen Integrated to replace each Igen share) and provide it with $155mm in working capital.
Deal Industry
- Biotechnology
- In Vitro Diagnostics
- Research, Analytical Equipment & Supplies
-
In Vitro Diagnostics
- Chemistry, Immunoassay
Deal Status
- Final
Deal Type
-
Acquisition
- Full Acquisition
- Includes Contract
- Payment Includes Cash
- Payment Includes Stock
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Roche buys Igen, spins off new company
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