Thermo Fisher Scientific (TMO) Said to Make $30B Offer to Acquire Illumina (ILMN) - Source

August 18, 2016 9:53 AM EDT

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Illumina (Nasdaq: ILMN), a San Diego-based company specializing in DNA sequencing and array-based technologies, is said to have received a $30 billion acquisition proposal from Thermo Fisher Scientific (NYSE: TMO), according to a source claiming to have knowledge of the matter.

The proposed deal -- potentially one of the largest of the year – would be a stock for stock transaction without a cash component, the person said.

In 2012, Illumina successfully rebuffed a hostile bid from Roche (OTC: RHHBY) and recent rumors have suggested Roche might renew these efforts. The topic was discussed recently on M&A blog Betaville. If the rumor is accurate, a bid from Thermo Fisher would undoubtedly add a new dimension to the story.

JP Morgan and Merrill Lynch are said be acting as advisors in the deal.

Representatives from Illumina and Thermo Fisher haven’t responded to requests for comment.

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