In a deal that would be worth $5.7 billion, health care giant Roche has launched a hostile attempt to acquire the outstanding shares of San Diego-based gene-mapping equipment-maker Illumina, Inc.
Under the tender offer disclosed Wednesday, Roche would pay $44.50 in cash per Illumina share in an effort to allow the Swiss company to expand its own DNA sequencing capabilities in the field of diagnostics, according to the Roche statement announcing the offer. Roche said it opted to take the offer directly to Illumina shareholders after making what it claims were “multiple efforts to engage with Illumina” that proved unsuccessful.
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