Illumina (ILMN) Jumps on Speculation of New, Higher Bid from Roche
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Illumina Inc. (NASDAQ: ILMN) is seeing upside action in pre-open trading Tuesday following reports overseas that Roche may be back with a new, higher bid.
The Times of London reported that Roche is preparing a $60 per share bid for Illumina, which would be a nearly 18 percent premium to the $51 bid Illumina rejected in April 2012. Roche initially took its hostile bid for Illumina public in January 2012 in a deal valued at $5.7 billion, or $44.50 per share.
Shares of Illumina last traded at $52, up 6 percent.
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The Times of London reported that Roche is preparing a $60 per share bid for Illumina, which would be a nearly 18 percent premium to the $51 bid Illumina rejected in April 2012. Roche initially took its hostile bid for Illumina public in January 2012 in a deal valued at $5.7 billion, or $44.50 per share.
Shares of Illumina last traded at $52, up 6 percent.
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