Novartis is cashing out of Roche for $21B, 20 years after mega-merger that never happened


Novartis’s equity stake in Roche, shares acquired 20 years ago in a strategy to build up to a potential mega-merger, will be sold back to the company in a $20.7 billion deal. The cash proceeds could fuel Novartis R&D, as well as potential dealmaking.

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