Roche: Poseida acquisition nears completion

(CercleFinance.com) - Roche announced on Wednesday that it expects to complete its acquisition of US biotech company Poseida Therapeutics today, with a 66.
1% stake following its tender offer.

The Swiss pharmaceutical group reports that over 64.9 million shares were tendered in its tender offer for the San Diego, California-based company, which closed at midnight yesterday evening.

The laboratory had announced a friendly offer for Poseida at the end of November, based on a price of nine dollars per share, with a guaranteed value certificate (CVR) providing for payment of up to $4 per share.

Specializing in gene editing, Poseida develops CAR-T therapies designed to treat conditions such as hematological cancers and certain autoimmune diseases.

Following completion of the transaction, Poseida will become a wholly-owned subsidiary of Roche and its shares will be delisted from the Nasdaq.


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