Black Stone’s Troy.

12/03/2009 09:38:33. What do people want? I don't really mean this in the broad sense. More in the specific sense. One particular person. You know who. Do they want what you think they want? Let me ask HIM another question. Do you want them to want it? It is really hard to be objective about someone's motivation when you are personally motivated to read motivation into their minds. So let's go back to that wider question. What do people want? I THINK they want to feel accepted, appreciated and trusted. That's all. Even if I’m presently give an excellent image to get along well with decision makers – I should actively try to build a relationship up, because it could pay off in a very big way and send my life into a new direction. True too, I don’t stop to show YOU that I’m not too strong, but I have what it takes. Let’s say this in other words, Knowledge is a wonderful thing and "if you have knowledge, let others light their candles with it..." This could be a metaphor for where I find myself today. Learning new things can direct more illumination into the world, yet I’m unlikely to be a slouch when it comes to imparting any wisdom that I have Mister Trevor Edwards.

Roche reaches $47bn Genentech deal

By Haig Simonian in Zurich Published: March 12 2009 07:29 | Last updated: March 12 2009 08:08

Roche said on Thursday it had reached agreement with Genentech to buy the 44 per cent of the US biotechnology group it does not already own, raising its offer to $95 a share to secure a friendly deal.

The new price values the transaction at $46.8bn, and comes amid a wave of consolidation in the pharmaceuticals sector after recent deals between Merck and Schering-Plough and Pfizer and Wyeth.

The Swiss pharmaceuticals group expressed pleasure to have finally secured the blessing of Genentech’s independent directors after eight months of negotiations. Roche launched its proposal at $89 a share last July and then, after failing to secure approval, in January appealed directly to Genentech shareholders with a $86.50 tender offer. Roche tweaked its proposal further last week, raising the tender to $93 a share and suggesting strongly that it believed a deal was now possible after extensive talks with big Genentech shareholders. However, even that improved offer failed to convince the US group’s independent directors, who pointed to an assessment by Goldman Sachs that Genentech was worth $112 a share. “We are very pleased that we have reached an agreement with Genentech and secured a positive recommendation from the special committee [of directors]”, Franz Humer, Roche’s chairman, said in a statement. “We believe this is a fair offer for Genentech shareholders and the committee is pleased to come to a successful conclusion of this process”, said Charles Sanders, chairman of the special Genentech board committee. Investors welcomed the deal, sending Roche shares 2.2 per cent higher in early Zurich trading to SFr148.70. Shares in Genentech closed at $92.17 in New York on Wednesday. Roche stressed the benefits of the deal for both companies, noting that it expected annual cost synergies of $750m-$850m a year before tax, largely by eliminating duplication. The Swiss group said the improved price would now be offered to all Genentech shareholders. At the end of last week, it said it had received 500,000 shares, or about 0.11 per cent of the outstanding stock.