The Wall Street Journal is reporting that the Genentech board is close to accepting a $46.7 billion offer from Swiss pharmaceutical giant Roche.
If the board accepts the deal, it would end months of uncertainty regarding the San Francisco-based biotech, which has a 500-employee plant in Oceanside. The newest offer equates to $95 a share, and is more than $4 billion more than the hostile bid rejected by the Genentech board last month.
However the price would be well below the original $112-a-share demand by the board. In September, we wrote about how the local employees might be affected by a Roche takeover.