Roche Launches $5.7B Hostile Bid For Illumina

Law360, New York (January 25, 2012, 1:42 PM EST) -- Swiss drug maker Roche Holding Ltd. on Wednesday made a $5.7 billion hostile bid for gene sequencing company Illumina Inc., saying it had gotten the cold shoulder from Illumina's board.

The proposed deal would give Roche a foothold in the developing field of gene technology, which could lead to a quicker and more accurate process for developing drugs targeted at specific problem.

Roche's chairman Franz Humer said in a letter to Illumina CEO Jay Flatley that the Illumina board of directors' stated lack of interest in...
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