Roche/Syntex
Executive Summary
Federal Trade Commission has requested further information on Roche's acquisition bid for Syntex. Roche has extended its May 6 tender offer, which was set to expire June 6, until July 1. "Approximately 96 mil." shares of Syntex stock have been tendered to date based on the latest count, the companies say. Roche needs 15 mil. more shares of Syntex to gain a controlling interest under its May 2 acquisition agreement ("The Pink Sheet" May 9, p. 15)