Roche Extends Illumina Offer

February 27, 2012

February 28, 2012 | Yesterday, Roche extended its offering for Illumina until March 23 after failing to win over shareholders with the $44.50/share offer that expired on February 24. Roche has been making offers for the biotech since January 25. In past acquisitions (Ventana Medical Systems and Genentech), Roche has proven patient and willing to increase bids. Illumina closed yesterday at $51.40, and Roche predicted that the company's position has been weakened by new product announcements from Oxford Nanopore Technologies (see, "Oxford Strikes First in DNA Sequencing Nanopore Wars") and Life Technologies (see, "February New Products") Businessweek