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.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.