SYNTAX SALES GROWTH FROM 1994-2002 ESTIMATED AT 7%-9.5%
SYNTAX SALES GROWTH FROM 1994-2002 ESTIMATED AT 7%-9.5% per year in tender offer documents sent to Syntex shareholders as part of Roche's proposed acquisition of the company. Projections for Syntex discussed with Roche during merger negotiations "reflected sales and net income increasing at compound average annual growth rates of approximately 7% and 17.4%" in the "base case" between 1994 and 2002. In the "upside case," Syntex forecast 9.5% sales growth and 22.1% earnings growth. Both estimates were made "on a stand-alone basis and without reflecting any synergies for the acquisition of the company" by Roche, the May 6 tender offer documents state.
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