Roche Again Extends $5.7B Offer To Illumina Shareholders

Law360, New York (March 26, 2012, 6:58 PM EDT) -- Swiss pharmaceutical company Roche Holdings AG said Monday it will extend its $5.7 billion hostile takeover offer for Illumina Inc. by another month, giving shareholders of the U.S.-based gene sequencing firm another chance to say yes.

Last month, Illumina's board unanimously rejected Roche's $44.50 per share offer, which was set to expire March 23. It will now run until April 20. No terms have changed; Roche has called its current cash offer a fair price for a company that faces “increasing headwinds.”

The bid represents a...
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