Volume 90 Issue 17 | p. 19 | Concentrates
Issue Date: April 23, 2012

Roche Won’t Extend Its Bid For Illumina

Department: Business
Keywords: takeover, gene sequencing, diagnostics

Roche says it has decided not to extend its tender offer for the gene-sequencing company Illumina beyond April 20. The decision follows voting results from Illumina’s annual meeting showing that stockholders rejected Roche proposals related to its $6.8 bil­lion bid for Illumina. Roche CEO Severin Schwan says the firm will consider other options to expand its position in diagnostics. Illumina CEO Jay T. Flatley says his firm will return its focus to expansion.

 
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