Roche (RHHBY) Raises Illumina, Inc. (ILMN) Cash Bid to More Than $6.5 Billion
3/29/2012 8:52:56 AM
Roche Holding AG raised its hostile takeover offer for Illumina Inc. by 15 percent to about $6.7 billion, yielding to demands for a higher price from shareholders of the U.S. maker of gene-mapping tools. Illumina investors have until 6 p.m. New York time on April 20 to tender their stock at $51 a share, Basel, Switzerland- based Roche said in a statement today. Illumina shares closed yesterday at $49.88, showing shareholders expected Roche to raise the original bid, which valued the San Diego-based company at $5.7 billion, or $44.50 a share.