Roche To Return Tendered Illumina Shares To Shareholders

Date : 04/23/2012 @ 5:47AM
Source : Dow Jones News
Stock : Illumina, Inc. (MM) (ILMN)
Quote : 204.85  -0.77 (-0.37%) @ 3:55PM

Roche To Return Tendered Illumina Shares To Shareholders

Illumina, Inc. (MM) (NASDAQ:ILMN)
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Roche Holding AG (ROG.VX) will return all tendered Illumina Inc. (ILMN) shares to the company's shareholders following the Swiss drug maker decision to drop its bid to buy the U.S. diagnostics company, a Roche spokesman said Monday.

Roche's Alexander Klauser declined to say how many shares had been tendered by Illumina shareholders since the world's biggest maker of cancer drugs launched its hostile takeover in January.

Roche said last week it wasn't extending the acceptance period for its offer, which expired last Friday, effectively ending the bid.

Roche had tried to wrestle control of the Illumina board at the company's annual shareholders meeting last week, but failed to have its slate of directors elected.

-By Marta Falconi, Dow Jones Newswires; +41 43 443 8043; marta.falconi@dowjones.com

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