Roche 'Disappointed' At Illumina Board's Response To Offer
January 27 2012 - 2:08AM
Dow Jones News
Roche Holding AG (ROG.VX) Friday said while not unexpected, it
is disappointed that Illumina Inc.'s (ILMN) board is unwilling to
participate in substantive discussions with Roche regarding a
negotiated transaction, and has instead adopted a shareholder
rights plan in response to the offer.
MAIN FACTS:
- Roche's all-cash offer represents a substantial premium and
Roche is confident that Illumina shareholders will see the value of
the offer.
- Roche firmly believes that its offer delivers full and fair
value to Illumina shareholders, based on the current market
outlook.
- On January 25, Roche announced an offer to acquire all
outstanding shares of Illumina for $44.50 per share in cash or an
aggregate of approximately $5.7 billion on a fully diluted
basis.
-Zurich Bureau, Dow Jones Newswires, +41 43 443 80 47;
zurichdjnews@dowjones.com
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