By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – Roche announced late on Tuesday night a $5.7 billion hostile takeover bid of Illumina.

Under the terms of its all-cash proposed deal, Roche would acquire all outstanding shares of the San Diego-based next-generation sequencing and microarray firm at $44.50 per share, representing a 64 percent premium over the price of Illumina's stock on Dec. 21, 2011, the day before rumors about Roche's interest in Illumina drove up Illumina's stock price, Roche said.

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