Illumina Rejects Roche's 'Grossly Inadequate' $5.7B Takeover Bid | GenomeWeb

This article, originally published Feb. 7, has been updated with information from Roche's response, Illumina's earnings call, and analyst comments.

Illumina's board of directors yesterday unanimously rejected Roche's unsolicited $5.7 billion acquisition bid, calling the offer "grossly inadequate."

"It is the board's unanimous belief that Roche's offer dramatically undervalues Illumina and fails to reflect the value of the company's unique leadership position and future growth prospects," said Illumina CEO Jay Flatley in a statement.

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