Illumina Fires Back At Suit Over Rejected $9B Roche Bid

Law360, New York (April 8, 2013, 3:20 PM EDT) -- Illumina Inc. and its board of directors on Friday asked a New York federal judge to dismiss a suit accusing them of stiffing shareholders by rebuffing several Roche Holdings AG takeover offers, including one nearing $9 billion, saying their decisions were in the best interests of the company.

The rejections of Roche’s offers were based on legitimate business decisions by the board of the genomics equipment maker, and plaintiff Vista Capital Management SA, a Swiss money manager, hadn’t shown any violation of securities law or any...
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