BioVeris, Roche deal

ROG said it will acquire BIOV for $21.50 per share in cash, or about $600 million. The deal price is a 58% premium to BIOV's close of $13.60 on April 3, the day before the deal was announced. ROG said the acquisition expands its immunochemistry business from human diagnostics into research, patient self-testing, veterinary testing and clinical trials. The deal gives ROG the complete patent estate covering BIOV's elect Rochemiluminescence (ECL) technology, which ROG Roche Diagnostics subsidiary uses in its Elecsys product line. Lehman Brothers and Houlihan Lokey Howard & Zukin Inc. are advising BIOV. ...