Monday, April 2, 2012

Illumina Rejects Latest Roche Offer

San Diego-based Illumina, the developer of genetics analysis and other life sciences tools, has again rejected an unsolicited bid from Roche to take over the company. Roche had upped its offer for Illumina to $51.00 last week, up from an earlier, $44.50 per share bid from the company. The new offer is worth around $6.7 billion. Illumina said the new offer "dramatically undervalues" the company. Roche launched its takeover of Illumina in January.