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Company Statement: Genentech special committee of independent directors responds to Roche proposal

( August 13, 2008, 16:10 GMT | Official Statement) -- ****************************************South San Francisco, Calif., 13 August 2008 - The special committee of the Board of Directors of Genentech, Inc. (NYSE: DNA) announced that, after careful consideration, it has unanimously concluded that Roche's proposal to acquire the shares of Genentech not owned by Roche for $89.00 per share substantially undervalues the company. Therefore, the special committee does not support the proposal. However, the special committee would consider a proposal that recognizes the value of the company and reflects the significant benefits that would accrue to Roche as a result of full ownership....

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