Roche Bumps Illumina Cash Offer Up To $6.5B

Law360, New York (March 29, 2012, 3:19 PM EDT) -- Roche Holding AG has boosted its offer to buy gene-sequencing company Illumina Inc. to $51 per share — more than $6.5 billion overall — in an appeal to get company leaders and shareholders to sign off on the hostile takeover, Roche announced Thursday.

The new offer, a 15 percent premium on the original $44.50-per-share price laid out in January, hikes up Illumina's valuation from $5.7 billion, answering Illumina shareholders' requests to speed up the deal, Roche CEO Severin Schwan said.

“We have seen interest to accelerate...
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