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Roche to pay $2.4 billion to buy rest of Foundation Medicine

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Roche to pay $2.4 billion to buy rest of Foundation Medicine

Roche to pay $2.4 billion to buy rest of Foundation Medicine
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ZURICH (Reuters) - Roche Holding AG <ROG.S> has agreed to pay $137 per share to buy the rest of Foundation Medicine (FMI) <FMI.O>, valuing the U.S. genomic profiling group at $5.3 billion (3.99 billion pounds), the partners said on Tuesday.

The deal, backed by the boards of both companies, is set to close in the second half on this year, they said in a statement. The offer price represented a premium of 29 percent to FMI's closing price on Monday.

(Reporting by Michael Shields, editing by John Revill)

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