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 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.