Corporate Banner
Satellite Banner
Next Gen Sequencing
Scientific Community
 
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
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 2,500+ scientific posters on ePosters
  • More than 3,700+ 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 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 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
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
Scientific News
The Changing Tides of the In Vitro Diagnostics Market
With the increasing focus in personalized medicine, diagnostics plays a crucial role in patient monitoring.
Genetic Overlapping in Multiple Autoimmune Diseases May Suggest Common Therapies
CHOP genomics expert leads analysis of genetic architecture, with eye on repurposing existing drugs.
Surprising Mechanism Behind Antibiotic-Resistant Bacteria Uncovered
Now, scientists at TSRI have discovered that the important human pathogen Staphylococcus aureus, develops resistance to this drug by “switching on” a previously uncharacterized set of genes.
Data Mining DNA For Polycystic Ovary Syndrome Genes
A new Northwestern Medicine genome-wide association study of PCOS – the first of its kind to focus on women of European ancestry – has provided important new insights into the underlying biology of the disorder.
Viral Comparisons
ORNL team applies genomics expertise to analyze, map virus sequence database.
The Tree of Life — More Like A Bush
New species evolve whenever a lineage splits off into several. Because of this, the kinship between species is often described in terms of a ‘tree of life’, where every branch constitutes a species.
Ancient Origins of Deadly Lassa Virus Uncovered
Working as part of an international team in North America and West Africa, a researcher at The Scripps Research Institute (TSRI) has published new findings showing the ancient roots of the deadly Lassa virus, a relative of Ebola virus, and how Lassa virus has changed over time.
Furthering Data Analysis of Next-gen Sequencing to Facilitate Research
Researchers at Cincinnati Children's Hospital Medical Center have developed a user-friendly, integrated platform for analyzing the transcriptomic and epigenomic "big data.
Statistical Technique Helps Researchers Understand Tumor Makeup, Personalize Cancer Treatments
A new statistical method for analyzing next-generation sequencing (NGS) data that helps researchers study the genome of various organisms such as human tumors and could help bring about personalized cancer treatments has been unveiled.
‘Fishing Expedition’ Nets Nearly Tenfold Increase in Number of Sequenced Virus Genomes
Newly developed computational tool finds 12,500 genomes of viruses that infect microbes.
SELECTBIO

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
2,500+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
3,700+ scientific videos
Close
Premium CrownJOIN TECHNOLOGY NETWORKS PREMIUM FREE!