Illumina Shares Rise Above Roche’s New Offer as Fight Continues |
| New York Times - Mar 29, 2012 |
Despite a new and higher offer from Roche Holding, the battle for Illumina appears to be far from over.
Shares of Illumina, a genetic sequencing company, traded above Roche’s new offer of $51 a share on Thursday, going as high as $52.14 during the morning. That suggests Illumina shareholders believe a higher bid may be in the offing.
Illumina has advised shareholders to hold off on tendering their shares into the new offer, as it studies the specifics.
The need for a higher offer has been evident for some time, given how high Illumina’s stock has stayed above the original proposal of $44.50 a share. People close to Roche told DealBook on Thursday that the Swiss medical company could be persuaded to go even higher, if Illumina could present financial data suggesting that a bump in price was warranted. (Roche has already met with a number of Illumina’s biggest shareholders.)
Read Full Article from New York Times
- Posted: 2012-03-29 11:18:28
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