Filed under: Deals, Genentech Inc (DNA), Options

Genentech (NYSE: DNA) is recently trading at $93, above its close on Friday of $81.82.

Roche Holding AG offered to buy the rest of DNA for $89 in cash. Roche, the world’s largest maker of cancer drugs, acquired a majority in DNA in 1990 and currently owns 55.9% of DNA. Goldman Sachs says: “We expect the independent directors to negotiate with Roche for a higher price.”

DNA August option implied volatility of 31 is near its 26-week average according to Track Data, suggesting non-directional price movement.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com

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This entry was posted on Tuesday, July 22nd, 2008 at 8:14 am and is filed under Latest News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.