Thermo Fisher Scientific (TMO) Said to Make $30B Offer to Acquire Illumina (ILMN) - Source
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Tesla (TSLA) Posts Q3 adj.-EPS of 71c
- Sempra Energy (SRE), Odenbrecht Peru pipeline project talks said to fail - Reuters
- 21st Century Fox (FOXA) Won't Bid for Viacom (VIAB)
Create E-mail Alert Related CategoriesHot M&A, Mergers and Acquisitions, Rumors, Trader Talk
Related EntitiesJPMorgan, Merrill Lynch, Definitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!