Roche Holdings (DE:RHO6) today announced the finalization of the tender offer for the acquisition of the U.S.-based Poseida Therapeutics, Inc. (PSTX). Roche has agreed to the payment of nearly 65 million shares of Poseida at a price of $9.00 per share in cash, which is equal to 66% of Poseida’s common stock outstanding. The deal terms also mention a potential additional contingent payment of up to $4.00 per share.
Stay Ahead of the Market:
- Discover outperforming stocks and invest smarter with Top Smart Score Stocks
- Filter, analyze, and streamline your search for investment opportunities using Tipranks' Stock Screener
Roche accepted the payment via its wholly owned subsidiary, Blue Giant Acquisition Corp. The total value of the deal reaches approximately $1.5 billion.
Based in Switzerland, Roche is a biotechnology company that operates through two main divisions: Pharma and Diagnostics. Meanwhile, Poseida Therapeutics is a biopharmaceutical company developing advanced cell and genetic therapies.
Roche to Complete Poseida Deal
Roche further announced that it will complete Poseida’s acquisition today through a merger, turning Poseida into a wholly owned subsidiary of Roche. Consequently, Poseida shares will be delisted from the Nasdaq Global Select Market.
The acquisition was previously announced in November, following the collaboration and licensing agreement signed in 2022.
The acquisition supports Roche’s strategy to broaden its portfolio in the biopharmaceutical industry. The deal will provide the company access to a range of potentially leading therapies in oncology, immunology, and neurology. Additionally, it strategically positions Roche in the emerging field of donor-derived off-the-shelf cell therapies.
Is Roche Holding a Good Stock to Buy?
On TipRanks, RHO6 stock has received a Hold rating based on three Hold recommendations from analysts. The Roche Holding share price target is €38.97, which is 15.6% above the current trading levels.
