Roche’s Updated Bid Rejected by Illumina
Illumina’s board of directors unanimously rejected Roche’s revived takeover bid yesterday, describing it as “opportunistic”. Last week, the Swiss major improved their offer by 15% to $51.00 per share, valuing Illumina at around $6.60 billion. However, after “careful review and consideration together with its financial and legal advisors”, Illumina’s board have not been persuaded. In