In its endeavor to take complete control of the biotech Genentech Inc, after an eight-month association, Roche Holding AG has upped its buyout deal - for the 44 percent of the company it doesn't already own - to $46.7 billion, a 2 percent increase over its earlier offer.

According to a Wall Street Journal report, the board of directors of the South San Francisco, California-based Genentech is close to striking a $95-per-share deal with Roche - its Basel, Switzerland-based cancer drug partner.

Though both Genentech as well as Roche refrained from commenting on the proposed deal, a source close to the proceedings said: "The new price was enough to get both sides to the table."

The two companies have been brawling about the terms of the prospective buyout since July, when Genentech turned down an $89-per-share bid, terming it as "too low". Even Roche's previous offer of $86.50-per-share failed to pick up shareholder support.

As per analyst Jason Zhang, of BMO Capital Markets, it will be the shareholder numbers that would determine whether Roche's current hostile tender offer, which will expire March 20, is high enough for the deal to come through.

In the opinion of analyst and Professor Erik Gordon, of University of Michigan's Ross School of Business, it is quite unlikely that another bidder would offer more than the $95-per-share Roche offer!