Bloomberg News

Roche Looks Forward to ‘Swift Completion’ of Illumina Bid

April 01, 2012

Roche Holding AG (ROG), the world’s largest maker of cancer drugs, looks forward to the “swift completion” of its takeover offer for Illumina Inc. (ILMN:US), a spokesman said.

“We look forward to the possibility of a swift completion of the Illumina transaction that offers immediate value to Illumina’s shareholders,” Alexander Klauser, a spokesman for the Basel, Switzerland-based drugmaker, said in an e-mailed statement today.

He commented after SonntagsZeitung reported that Roche may drop the hostile bid, which values the San Diego-based gene- sequencing company at about $6.7 billion. The newspaper cited an unidentified person close to Roche’s board.

The Swiss drugmaker on March 29 raised its offer for Illumina by 15 percent to $51 a share. Investors have until April 20 at 6 p.m. New York time to tender their stock. Illumina’s technology may help Roche tailor medicines to individual patients.

To contact the reporter on this story: Trista Kelley in London at tkelley2@bloomberg.net

To contact the editor responsible for this story: Phil Serafino at pserafino@bloomberg.net


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Companies Mentioned

  • ILMN
    (Illumina Inc)
    • $172.26 USD
    • -5.66
    • -3.29%
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