March 9 (Bloomberg) -- Genentech Inc. rose as much as 2.9 percent in New York trading after the Wall Street Journal reported on its Web site that the company is a near a deal to sell itself to Roche Holding AG for $46.7 billion, or $95 a share.
Roche, based in Basel, Switzerland, raised its bid for Genentech on March 6 to $93 a share from $86.50 a share, a 7.5 percent increase, saying it “wanted to get this deal done.” Genentech spokesman Geoffrey Teeter declined to comment on the report of the higher offer.
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