Swiss-based Roche Holding AG offered roughly $5.7 billion in cash for San Diego biotech Illumina early Wednesday (Jan. 25). Roche said it would pay $44.50 a share for Illumina, 18% more than its closing price Tuesday. Roche said Illumina was "unwilling to participate in substantive discussions." According to Bloomberg News, Roche, the world's largest maker of cancer drugs, would add technology for reading the genetic makeup of tumors.
More like this:
- Payment for Illumina's patent suit loss one of nation's largest — March 16, 2013
- Anadys Up 251%; Roche to Buy It — Oct. 17, 2011
- Illumina Shares Plunge 31.76% — Oct. 7, 2011
- Illumina Sequences Actress Close's DNA — March 11, 2010
- Are Gene Testing Kits a Fad? San Diego's Illumina Cares — Nov. 30, 2007