Friday, January 27, 2012

Illumina Board Ponders Takeover Offer

San Diego-based life sciences tools developer Illumina said today that its board of directors will be reviewing the usnolicited offer by Roche to acquire the firm, for $44.50 per share in cash. Roche made the offer--which is worth $5.7 billion--on Tuesday. Roche said it will advise stockholders of its position on the deal within ten business days; the firm has engaged Goldman, Sachs & Co. and Bank of America Merrill Lynch as financial advisors on the deal, along with Dewey & LeBoeuf LLP as legal advisor.