ACHIEVEMENTS

CASE
SUCCESSES

Genentech: Injunction stops hostile takeover, secures higher price

In a case that a Delaware Chancery Court Vice-Chancellor called “real hard-fought litigation in a complicated setting,” we co-led a challenge to a hostile takeover of Genentech by its majority shareholder, Roche.

The dispute’s turning point came when we secured an injunction to compel enforcement of the parties’ pre-existing affiliation agreement. As a result, Genentech’s independent directors were able to negotiate an additional $3.9 billion in merger consideration for our client, the Alameda County Employees’ Retirement Association, and the class it represented.

Partner
D 610.667.7706
Partner
D 610.822.0248