ARTICLE | Company News

Illumina rejects Roche's bumped-up bid

April 3, 2012 1:09 AM UTC

Illumina Inc. (NASDAQ:ILMN) said its board unanimously rejected a bumped-up tender offer from Roche (SIX:ROG; OTCQX:RHHBY) to acquire the sequencing and microarray company for $51 per share, or about $6.3 billion. Last week, Roche increased the offer by $6.50 after Illumina rejected the pharma's initial offer of $44.50 per share. Roche declined to comment (see BioCentury, Jan. 30). ...