Illumina Inc (ILMN): RPT-UPDATE 1-Roche steps up pressure in...

Reply Private New

Replies (1) Next 10 Prev Next

Send PM Follow Ignore

Followers	142
Posts	4163
Boards Moderated	1
Alias Born	09/01/2011

lady glueck

Re: None

Wednesday, 04/04/2012 2:30:02 AM

Wednesday, April 04, 2012 2:30:02 AM

RPT-UPDATE 1-Roche steps up pressure in Illumina bid battle

The Swiss pharmaceuticals company again appealed directly to Illumina shareholders to accept its bid after the U.S. company's board rejected the offer ahead of its April 18 shareholder meeting.

"Roche's increased offer represents a significant premium to where Illumina would likely trade on a standalone basis and provides certainty of value through an all-cash payment to Illumina's shareholders," Roche said in the letter.

The two firms have been at odds to win over shareholders. A source close to the situation said top Illumina shareholder Capital Research, which owns 11.4 percent of the company according to Thomson Reuters data, had pressured the board to engage with the Swiss drugmaker after Roche's improved bid.

http://www.reuters.com/article/2012/04/04/illumina-roche-idUSL6E8F40OW20120404?feedType=RSS&feedName=marketsNews&rpc=72

777