Roche Once Again Extends Illumina Bid
The hostile approach, which is valued at approximately $5.7bn, will now give shareholders until April 20 to accept an offer of $44.50 per share.
Swiss pharma giant Roche has extended its cash tender offer to acquire all outstanding shares in Illumina for a second time.
The hostile approach, which is valued at approximately $5.7bn, will now give shareholders until April 20 to accept an offer of $44.50 per share, an extension on the previous deadline of March 23.
Whilst Roche insist the offer represents a substantial premium over Illumina's closing stock price before rumours surrounding the bid surfaced, shares in Illumina are currently trading at about 13% above the bid, indicating that stockholders expect a higher price.
The new deadline of April 20 has been established to allow investors in Illumina to oust four di
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