Roche nominates its own candidates for Ventana board

BASEL, Switzerland Roche has been trying to acquire Ventana for about six months and Ventana has called Roche’s offers “grossly inadequate,” according to published reports. Now, Roche has made a move to increase its chances of buying the company.

Roche has nominated four candidates for election to Ventana’s board of directors at its next annual general meeting, scheduled for June.

“We have taken this step, as required by Ventana’s bylaws, because we are committed to pursuing the acquisition of Ventana. However, we continue to prefer a negotiated transaction,” said Franz Humer, chairman and chief executive officer of Roche.

“All of our nominees have proven track records in their areas of expertise and if elected, we are confident that they will act in the best interests of Ventana stockholders by exploring all alternatives for maximizing shareholder value.”

Roche’s offer has been a steady $75 per share, a $13 difference below the price at which the shares are currently trading.