logo
Share SHARE
FONT-SIZE Plus   Neg

Roche Says Disappointed By Illumina's Board's Rejection - Quick Facts

Roche (RHHBY.PK) said it is disappointed by Illumina Inc. (ILMN) board's rejection of Roche's increased $51.00 cash offer and continues to rebuff its attempts to engage in substantive talks.

Roche Group's CEO, Severin Schwan, explained, "Roche's increased offer is highly attractive. By not engaging with Roche, Illumina reinforces the notion that its Board and management are determined to preserve their positions rather than maximize shareholder value."

Also, Roche believes that Illumina shareholders would see the substantial value in its increased offer, conclude that there is absolutely no justification for Illumina's current directors' refusal to begin talks with Roche, and vote their shares for the Roche director nominees.

On January 27, 2012, Roche began its tender offer to buy Illumina's outstanding shares for $44.50 per share cash and increased its offer on March 29, 2012 to $51.00 per share cash for an aggregate of some $6.7 billion on a fully diluted basis.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Google Maps introduced a new feature to share real-time location to a contact for 15 minutes to 3 days. The feature can be turned off at any time by the user. The tech leader believes that the feature will help friends meet up in a large park or a restaurant at a new location. One can open share... Instagram is expected to announce Wednesday that it has one million monthly active advertisers, representing a five-fold increase from a year ago. The photo and video app, owned by Facebook, had 500,000 monthly active advertisers in September 2016 and just 200,000 active advertisers a year ago. Offensive and extremist content appearing along with display ads has been creating headache for Google. There has been strong protests and boycott of ads by major advertisers and this has forced the company to expand their controls. The tech giant said the advertisers will have more say to display...
comments powered by Disqus
Follow RTT