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Genentech Rejects Takeover Bid From Roche By ANDREW POLLACK The biotechnology company, Genentech, as expected, turned down a buyout offer Wednesday from its majority owner Roche, saying the bid of $89 a share was far too low. But in a statement, a special committee of Genentech’s board said it would consider a higher offer, which some analysts took as suggesting a deal would eventually be done.
