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 2,900+ scientific posters on ePosters
  • More Than 4,200+ 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
Breaking Cell Barriers with Retractable Protein Nanoneedles
Adapting a bacterial structure, institute researchers have developed protein actuators that can mechanically puncture cells.
Gene Signature could Lead to a New Way of Diagnosing Lyme Disease
Lyme disease patients had distinctive gene signatures that persisted for at least three weeks, even after they had taken the antibiotics.
Retractable Protein Nanoneedles
The ability to control the transfer of molecules through cellular membranes is an important function in synthetic biology; a new study from researchers at Harvard’s Wyss Institute for Biologically Inspired Engineering and Harvard Medical School (HMS) introduces a novel mechanical method for controlling release of molecules inside cells.
Leukemia’s Surroundings Key to its Growth
Researchers at The University of Texas at Austin have discovered that a type of cancer found primarily in children can grow only when signaled to do so by other nearby cells that are noncancerous.
Common Cell Transformed into Master Heart Cell
By genetically reprogramming the most common type of cell in mammalian connective tissue, researchers at the University of Wisconsin—Madison have generated master heart cells — primitive progenitors that form the developing heart.
‘Smelling’ Prostate Cancer
A research team from the University of Liverpool and the University of the West of England (UWE Bristol) has reached an important milestone towards creating a urine diagnostic test for prostate cancer that could mean that invasive diagnostic procedures that men currently undergo eventually become a thing of the past.
Genetic Mutation that Prevents Diabetes Complications
The most significant complications of diabetes include diabetic retinal disease, or retinopathy, and diabetic kidney disease, or nephropathy. Both involve damaged capillaries.
A Crystal Clear View of Biomolecules
Fundamental discovery triggers paradigm shift in crystallography.
Could the Food we Eat Affect Our Genes?
Almost all of our genes may be influenced by the food we eat, according to new research.
NIH Seeks Research Applications to Study Zika in Pregnancy, Developing Fetus
Institute has announced that the new effort seeks to understand virus effect on reproduction and child development.
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
2,900+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
4,200+ scientific videos
Close
Premium CrownJOIN TECHNOLOGY NETWORKS PREMIUM FOR FREE!