Read on for the story of how the quote-unquote staunchly independent California biotechnology firm was taken completely by surprise when it received a $44 billion, full-ownership bid from Roche Holding. Will the companies be able to find a suitable middle ground – or has their delicate power balance been upset for good?

Roche Holding AG's $44 billion bid to gain full ownership of Genentech Inc. took the staunchly independent biotechnology company by surprise and risks upsetting the highly successful -- but delicate -- relationship the partners have developed over two decades.

Genentech's top management maintained public silence Monday after Roche, which already controls roughly 56% of the San Francisco company, unveiled its offer for the remaining shares.

But Genentech employees expressed concern about the proposed takeover's impact on Genentech's culture and identity.

"It was so sudden," said Napoleone Ferrara, a Genentech fellow and 20-year veteran who led the teams that invented the blockbuster cancer drug Avastin and the related eye treatment Lucentis. "People are asking questions," he said, describing the mood at Genentech as watchful.

Franz Humer, Roche's chairman, didn't inform Genentech Chief Executive Arthur Levinson or other Genentech directors of the Swiss pharmaceutical giant's bid until Sunday evening European time, when he phoned them from his home in Zurich.

In an interview in New York Monday, Mr. Humer said Dr. Levinson expressed surprise upon learning of the bid and voiced concerns about preserving Genentech's talent. The two men agreed to meet Tuesday in San Francisco to discuss the offer.

Dr. Levinson couldn't be reached for comment.

Roche said Monday that it was offering $89 a share for the 44% of Genentech it doesn't own, but it quickly came under pressure to raise its bid. Analysts and industry watchers said the premium Roche offered of 9% above Genentech's Friday closing price was low. In 4 p.m. composite trading on the New York Stock Exchange, Genentech shares jumped $12.06, or 15%, to $93.88.

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