Corporate Banner
Satellite Banner
Technology
Networks
Scientific Communities
 
Become a Member | Sign in
Home>News>This Article
  News
Return

Illumina's Board Unanimously Rejects Roche's Unsolicited Tender Offer

Published: Wednesday, February 08, 2012
Last Updated: Wednesday, February 08, 2012
Bookmark and Share
Urges stockholders not to tender their shares, company considers offer inadequate.

The company announced that its Board of Directors thoroughly reviewed Roche's unsolicited tender offer with the assistance of its financial and legal advisors and unanimously determined that the $44.50 per share cash offer is grossly inadequate in multiple respects, dramatically undervalues Illumina and is contrary to the best interests of Illumina's stockholders. Accordingly, the Board recommends that stockholders not tender any of their shares to Roche. The Company filed today a Schedule 14D-9 with the Securities and Exchange Commission ("SEC") detailing the reasons for its rejection. The letter sent today by Illumina to the Chairman of Roche also appears below.

"It is the Board's unanimous belief that Roche's offer dramatically undervalues Illumina and fails to reflect the value of the Company's unique leadership position and future growth prospects," said Jay Flatley, President & Chief Executive Officer. "Illumina has established itself as the innovation and market leader in tools for genetic analysis, with a proven track record of profitability and outperformance, resulting in significant value creation. Our industry is nascent, with the promise and potential to experience extraordinary growth in the years ahead as genetic information becomes broadly applied beyond molecular biology research, and into medical diagnostics, reproductive health and cancer management. As the growth of this industry accelerates, Illumina is singularly positioned to expand its market leadership, and to deliver value to our stockholders that is far superior to Roche's offer."


Further Information

Join For Free

Access to this exclusive content is for Technology Networks Premium members only.

Join Technology Networks Premium for free access to:

  • Exclusive articles
  • Presentations from international conferences
  • Over 3,200+ scientific posters on ePosters
  • More Than 4,700+ scientific videos on LabTube
  • 35 community eNewsletters


Sign In



Forgotten your details? Click Here
If you are not a member you can join here

*Please note: By logging into TechnologyNetworks.com you agree to accept the use of cookies. To find out more about the cookies we use and how to delete them, see our privacy policy.

Related Content

Illumina and 10x Genomics Announce Co-Marketing Relationship
Illumina and 10x Genomics have announced building partnership to promote 10x Genomics linked-read sequencing products and Illumina sequencing systems.
Thursday, February 11, 2016
Illumina Files Patent Infringement Suit in the UK Against Premaitha Health
Suit is filed for Infringement of NIPT Patents.
Monday, March 16, 2015
Illumina Revenues Jump 35 Percent
Company’s Third Quarter 2014 Results Announced.
Tuesday, October 21, 2014
Initial Companies Focused on Breakthrough Applications in Therapeutics, Agriculture, and Molecular Pathology
The selection of three startup companies for the inaugural Illumina Accelerator funding cycle are announced.
Wednesday, October 15, 2014
Illumina's HiSeq X Ten Sequencing Technology for Population Studies
Next-generation sequencing technologies to be implemented at new High-Throughput Genomics Center for the MENA region.
Tuesday, July 22, 2014
Illumina Announces Pricing of Convertible Senior Notes
The Notes are being offered to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act").
Monday, June 09, 2014
Novogene Acquires an Illumina HiSeq X Ten Sequencing System
First-in-China deal Iincreases Novogene's investment in Illumina's Next-Generation Sequencing technology.
Thursday, February 13, 2014
Illumina Announces Recipients of Agricultural Greater Good Initiative Grants
Expanded program focuses on improving food security and furthering agricultural sustainability.
Wednesday, January 16, 2013
Illumina Awarded FDA Contract for NGS Technology to Identify Foodborne Pathogens
Agency selects MiSeq® system for program to explore NGS as mechanism to enhance food safety.
Wednesday, September 19, 2012
The Broad Institute Joins the Illumina Genome Network
Partnership expands the network’s capabilities to enable sequencing of previously inaccessible samples.
Tuesday, June 05, 2012
Cold Spring Harbor Laboratory Joins the Illumina Genome Network
Partnership expands access to large-scale whole genome sequencing.
Monday, May 28, 2012
Macrogen, Inc. Increases Investment in Illumina’s Next-Generation Sequencing Technology
New purchase includes ten HiSeq 2000®Systems, HiSeq 2500® upgrades, and two MiSeq®Systems.
Thursday, March 22, 2012
Illumina Comments on Roche’s Unsolicited Tender Offer Extension
Roche to acquire all outstanding shares of Illumina for $44.50 in cash per common share.
Monday, February 27, 2012
BCCA Joins the Illumina Genome Network
Network expansion making affordable, high quality whole human genome sequencing services accessible world-wide.
Friday, January 20, 2012
Illumina Appoints Marc Stapley as Senior Vice President and CFO
Stapley brings multi-national experience in high-growth and mature industries.
Thursday, January 05, 2012
Scientific News
Platelets are the Pathfinders for Leukocyte Extravasation During Inflammation
Findings from the study could help in the prevention and treatment of inflammatory pathologies.
ASMS 2016: Targeting Mass Spectrometry Tools for the Masses
The expanding application range of MS in life sciences, food, energy, and health sciences research was highlighted at this year's ASMS meeting in San Antonio, Texas.
Benchtop Automation Trends
Gain a better understanding of current interest in and future deployment of benchtop automated systems.
Some Women With PCOS May Have Adrenal Disorder
Researchers at NIH have found that a subgroup of women with PCOS, a leading cause of infertility, may produce excess adrenal hormones.
Alzheimer's Genetics Point To New Research Direction
A University of Adelaide analysis of genetic mutations which cause early-onset Alzheimer’s disease suggests a new focus for research into the causes of the disease.
Penn State, TB Alliance, and GSK Partner To Discover New Treatments For TB
A new collaboration between TB Alliance, GSK, and scientists in the Eberly College of Science seeks to find new small molecules that can be used to create antibiotics in the fight against tuberculosis (TB).
Manufactured Stem Cells To Advance Clinical Research
Clinical-grade cell line will enable development of new therapies and accelerate early-stage clinical research.
Faster Detection of Pathogens in the Lungs
Thanks to new molecular-based methods, mycobacterial pathogens that cause pulmonary infections or tuberculosis can now be detected much more quickly.
Contagious Cancers Are Spreading in Shellfish
Direct transmission of cancer among some marine animals may be more common than once thought, suggests a new study published in Nature by researchers at Columbia University Medical Center (CUMC).
Contagious Cancers Are Spreading in Shellfish
Direct transmission of cancer among some marine animals may be more common than once thought, suggests a new study published in Nature by researchers at Columbia University Medical Center (CUMC).
Scroll Up
Scroll Down
Skyscraper Banner

Skyscraper Banner
Go to LabTube
Go to eposters
 
Access to the latest scientific news
Exclusive articles
Upload and share your posters on ePosters
Latest presentations and webinars
View a library of 1,800+ scientific and medical posters
3,200+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
4,700+ scientific videos
Close
Premium CrownJOIN TECHNOLOGY NETWORKS PREMIUM FOR FREE!