Roche and Genentech signed a merger agreement under which Roche will acquire outstanding Genentech shares for approximately $46.8 billion in cash. The special committee of Genentech’s board of directors has approved the agreement and recommends that shareholders tender their shares in Roche’s offer. Research and early development will operate as an independent center and the Genentech’s South San Francisco site will serve as headquarters of combined U.S. commercial operations. The...