Mergers & Acquisitions
Feb. 9, 2012
Illumina rejects takeover by Roche
San Diego-based Illumina Inc.'s board of directors voted unanimously Tuesday to reject Roche Holding Ltd.'s $5.7 billion bid to buy the genetic sequencing company.
By Mandy Jackson
Daily Journal Staff Writer
San Diego-based Illumina Inc.'s board of directors voted unanimously Tuesday to reject Roche Holding Ltd.'s $5.7 billion bid to buy the genetic sequencing company.
After Illumina's board reviewed the Roche offer with financial and legal advisors, the directors deemed the $44.50-per-share offer "grossly inadequate," because it "dramatically undervalues" the company.
Also on Tuesday, Illumina reported $1.1 billion in ...
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