Davis Polk is advising Roche on its acquisition of the outstanding shares of Foundation Medicine, Inc. not already owned by Roche at a price of $137.00 per share in cash. The transaction is valued at $2.4 billion and values Foundation Medicine at $5.3 billion. The closing of the transaction is expected to take place in the second half of 2018 and is subject to customary closing conditions.

Roche is the world’s largest biotech company, with truly differentiated medicines in oncology, immunology, infectious diseases, ophthalmology and diseases of the central nervous system. Foundation Medicine is a molecular information company dedicated to a transformation in cancer care in which treatment is informed by a deep understanding of the genomic changes that contribute to each patient’s unique cancer.

The Davis Polk team includes partners Arthur F. Golden, Marc O. Williams and Brian Wolfe and associate Arthur M.T. Burke. Partner Jean M. McLoughlin and associate R. Scott Matarese are providing executive compensation advice. Partner Michael Mollerus is providing tax advice. Counsel David R. Bauer and associate Paul S. Lee are providing intellectual property and technology advice. All members of the Davis Polk team are based in the New York office.