Thursday, March 29, 2012

Illumina Gets Increased Offer From Roche

San Diego-based Illumina, the manufacturer of genetic analysis tools and systems, has received a new, unsolicited offer to take over the firm from Roche. Roche said it is now offering to acquire Illumina for $51.00 per share in cash, up from its earlier, unsolicited offer of $44.50 per share in cash for Illumina. Illumnia issued a statement late Wednesday telling stockholders to defer taking any actions on the offer until the firm has time to review Roche's revised proposal. Illumina's board had rejected the earlier hostile takeover offer on February 7th.

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