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Roche extends expiration of tender offer for Foundation Med shares

  • Since it is only about half way there in its effort to establish a majority stake in Foundation Medicine (FMI +0.4%), Roche (OTCQX:RHHBY -0.1%) extends the expiration date to April 6 to acquire 15,604,288 common shares. So far it only 7,739,202 shares have been tendered. After acquiring the 15.6M shares it intends to buy another 5M that Foundation will issue.
  • The Cambridge, MA-based firm uses genetics to help select drugs for cancer patients. Its IPO was in September 2013.

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FMI--
Foundation Medicine, Inc.