Thursday, Mar 29, 1990

Roche-Genentech Transaction Passes Exon-Florio Review

South San Francisco, Calif. -- March 29, 1990 --

Roche Holding Ltd and Genentech, Inc. announced today that the Committee on Foreign Investment in the United States (CFIUS) has determined that there are no issues under its jurisdiction to warrant any further inquiry into the proposed purchase of 60 percent of Genentech by Roche. Under the Exon-Florio Amendment to the Omnibus Trade and Competitiveness Act of 1988, CFIUS has the authority to review the national security implications of certain mergers and acquisitions which involve a foreign company. Roche and Genentech filed a joint voluntary notification with CFIUS on March 2 and received the determination from CFIUS on March 27.

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