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In Brief This Week: Illumina, Diagnomics, Danaher, BioDiscovery, Abbott

NEW YORK – Illumina said this week that it was notified of an unsolicited "mini-tender offer" by TRC Capital to purchase up to 500,000 shares of Illumina common stock at a price of $268.80 per share in cash. Illumina noted that the offer is subject to a number of conditions, including TRC's ability to obtain sufficient funding, and that the offer will expire at 12:01 am on Oct. 3. Illumina said that it is not affiliated or associated in any way with TRC or its offer, and that it recommends that stockholders not tender their shares in response to the offer because, among other things, it would "deprive stockholders … the potential opportunity to realize greater long-term value in their investment. 

TRC has made similar mini-tender offers for shares of other companies, Illumina said. These offers seek to acquire not more than five percent of a company's outstanding shares, thereby avoiding many disclosure and procedural requirements of the US Securities and Exchange Commission that apply to offers for more than five percent of a company's outstanding shares.

Diagnomics said this week that it has been approved by regulators in Maryland, Pennsylvania, and Rhode Island to provide its genetic testing services to residents from those states. The San Diego-based company is CLIA certified and CAP accredited. A handful of states require additional state approval to provide certain medical testing services to their residents, however.

Danaher this week announced a quarterly cash dividend of $.17 per share of its common stock, payable Oct. 25 to shareholders of record on Sept. 27. The company also announced a quarterly cash dividend of $11.875 per share of its 4.75 percent Series A Mandatory Convertible Preferred Stock, payable Oct. 15 to shareholders of record on Sept. 30.

Genomic software firm BioDiscovery said this week that it has signed on Children's Hospital of Los Angeles as a BioDiscovery Center of Excellence for Clinical Genomics. As such, CHLA will serve as a reference site for others seeking information and training on BioDiscovery's NxClinical software, which handles next-generation sequencing and microarray data to enable analysis and interpretation of copy number, loss of heterozygosity, and sequence variants. CHLA has been utilizing NxClinical to analyze and interpret microarray and NGS results via tests offered through its Department of Personalized Medicine, BioDiscovery said. In April, BioDiscovery named Victorian Clinical Genetics Services of Australia's Murdoch Children's Research Institute as a center of excellence.

Abbott this week announced a quarterly common dividend of $.32 per share, payable Nov. 15 to shareholders of record on Oct. 15.

In Brief This Week is a selection of news items that may be of interest to our readers but had not previously appeared on GenomeWeb.