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August 30, 1994|From Times Staff and Wire Reports

Roche to Sell Syntex's Medical Diagnostic Unit: The company said it will sell the business under an agreement with the Federal Trade Commission, clearing the way for a $5.3-billion merger of the two companies. Roche Holding Ltd.'s $24-a-share tender offer for Syntex Corp. has been extended several times since being announced May 2 and will now expire Wednesday. Syntex's Syva Co. is a major provider of tests that detect illegal drugs. Roche Diagnostics, based in Switzerland, is also a leading provider, prompting the FTC's concerns. Under the agreement, Syva must be sold within a year of the merger.

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