Roche has launched a tender offer to acquire all outstanding shares of 89bio for $14.50 per share in cash, plus a contingent value right for up to $6.00 per share in additional milestone payments. This offer is a result of a previously announced merger agreement between Roche's subsidiary, Bluefin Merger Subsidiary, Inc., and 89bio. The tender offer period is set to expire on October 29, 2025, unless extended by Roche. Roche has filed a Schedule TO with the SEC detailing the offer's terms and conditions. The 89bio board of directors unanimously recommends that stockholders tender their shares. Closing of the tender offer is subject to standard conditions, including antitrust approval under the Hart-Scott-Rodino Act and the tender of a majority of 89bio shares. Any remaining shares will be acquired in a subsequent merger at the same price and CVR terms. The transaction is anticipated to close in the fourth quarter of 2025. Investors are advised to review all relevant SEC filings for important information. 89bio is a biopharmaceutical company focused on developing treatments for liver and cardiometabolic diseases, with its lead candidate, pegozafermin, in Phase 3 trials. Roche, a global leader in pharmaceuticals and diagnostics, aims to transform healthcare delivery through scientific innovation and personalized medicine.