Issue Date: April 23, 2012
Roche Won’t Extend Its Bid For Illumina
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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