Swiss drugmaker Roche (OTCQX:RHHBY) has agreed to pay $137 per share to buy the rest of Foundation Medicine (NASDAQ:FMI), a $2.4B transaction that values the U.S. company at $5.3B.
The offer represents a premium of 29% to FMI's closing price on Monday. Foundation Medicine offers comprehensive genomic profiling assays to identify molecular alterations in a patient's cancer and match them with targeted therapies, immunotherapies and clinical trials.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.