Shares of BioMarin Pharmaceutical Inc. surged prior to the market’s opening Thursday after a report that Genentech Inc. parent Roche Holding AG is assembling $15 billion in debt financing to buy the rare-drug developer. But Roche quickly shot down the rumor.
DealReporter said Roche may pay $95 to $105 per share for San Rafael-based BioMarin (NASDAQ: BMRN), according to Bloomberg, which would value the company at roughly $13.5 billion. DealReporter said UBS AG would lead the financing with $5 billion.
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