Ventana Enters Confidentiality Agreement With Roche

Ventana Medical Systems has entered into a confidentiality agreement with Roche, whose offer to acquire Ventana has been rejected four times.

The agreement will allow Roche to commence due diligence and have access to nonpublic information, Ventana said.

Ventana’s board of directors believes the due diligence and related discussions will allow Roche to recognize the significant additional value inherent in Ventana’s business.

Prior to the confidentiality agreement, Ventana had not commenced negotiations with Roche, and no assurance can be made that Roche and Ventana will ultimately enter into a definitive agreement, Ventana said.

Roche made a tender offer June 27 to acquire all of the outstanding common shares of Ventana for $75 per share in cash.