Note on Roche buyout of Genentech

It was announced earlier that Roche offered to buyout the rest of Genentech (DNA) stock that it didn't already own for a cash price amounting to $89 per share. In premarket trading, Genetech is currently being bid between $94 and $95. Why so high? Because the Street figures that $105 more accurately reflects the stock's worth. That amounts to roughly a 10% premium over the current price. It's a nice sum, but I'm not going to take the trade for my MANDA Fund because it's unclear as yet if Roche will meet that price, although they probably will. If they do, then I'll reconsider but for right now, it's too risky for my tastes.