By Andrew Morse
ZURICH--Roche Holding AG said Monday it had received enough
shares through a tender offer to allow it to complete its
acquisition of InterMune Inc., a lung disease specialist.
Basel-based Roche said its acquisition vehicle, Klee Acquisition
Corp., had received 79.42% of InterMune's shares during the tender,
which expired at midnight on Sept. 26.
Roche will merge Klee into InterMune later on Monday to complete
the transaction.
Roche struck an $8.3 billion deal to buy InterMune last month as
the pharmaceutical and biotechnology giant looks to expand into the
respiratory disease area, one of the world's biggest drug
markets.
InterMune makes Esbriet, a drug to treat a lung-scarring
condition called idiopathic pulmonary fibrosis. The drug is
approved in Europe and Canada but not in the U.S.
Roche offered $74 for each InterMune share, a 38% premium over
the company's closing price before the acquisition was
announced.
-Write to Andrew Morse at andrew.morse@wsjcom
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