Roche Once Again Extends Illumina Bid
The hostile approach, which is valued at approximately $5.7bn, will now give shareholders until April 20 to accept an offer of $44.50 per share.
Swiss pharma giant Roche has extended its cash tender offer to acquire all outstanding shares in Illumina for a second time.
The hostile approach, which is valued at approximately $5.7bn, will now give shareholders until April 20 to accept an offer of $44.50 per share, an extension on the previous deadline of March 23.
Whilst Roche insist the offer represents a substantial premium over Illumina's closing stock price before rumours surrounding the bid surfaced, shares in Illumina are currently trading at about 13% above the bid, indicating that stockholders expect a higher price.
The new deadline of April 20 has been established to allow investors in Illumina to oust four di
Related News
-
News CPHI Milan 2024 - From the Floor
Milan and CPHI welcome you to 2024 CPHI Milan! As we celebrate the 35th edition of our flagship CPHI show, editors Vivian Xie and Lucy Chard bring you the latest from the show floor, conference sessions, and innovative solutions from all exhibitors, at... -
News The BIOSECURE Act: implications for the pharma supply chain
On September 9, 2024, the US House of Representatives voted to pass the bill titled the BIOSECURE Act (the Act), which lists several Chinese companies in the pharmaceutical supply chain. The Act will prohibit American companies from contracting or doin... -
News A Day in the Life of a Global CDMO Chapter Lead – Manufacturing
The 'Day in the Life of' series has covered many aspects of the pharmaceutical pipeline, including R&D and procurement, now we're taking a look at manufacturing from a global CDMO perspective. -
News CPHI Milan Speaker Spotlight: CDMO relations with Pharma and Start-Ups
In the run-up to CPHI Milan, we sit down with some of the experts and thought-leaders speaking at this year’s conferences. -
.png)
News Women in Pharma: Advocating for trans healthcare in pharma
In our monthly series on women in the pharmaceutical industry, we interview leading experts in the pharmaceutical supply and value chain to discuss the importance of gender diversity in healthcare, the workplace, and beyond. -
News Updated – Changing abortion pill access according to the US FDA and Supreme Court
After the approval of the medical abortion pill, mifepristone, by the US FDA, states across the USA approach the distribution of the pill differently, some ruling against allowing access to the drug. -
News CPHI North America 2024 – From the Floor
Welcome to Philly! CPHI North America once again graces the Philadelphia Convention Center, 7–9 May 2024. -
.png)
News Drug Patent Expiries: a steep cliff or opportunity for innovation?
The pharmaceutical industry faces a patent cliff together in the years leading up to 2030. Learn what this means for drug pricing, their outsourcing partners, and drug innovation of the future.
Position your company at the heart of the global Pharma industry with a CPHI Online membership
-
Your products and solutions visible to thousands of visitors within the largest Pharma marketplace
-
Generate high-quality, engaged leads for your business, all year round
-
Promote your business as the industry’s thought-leader by hosting your reports, brochures and videos within your profile
-
Your company’s profile boosted at all participating CPHI events
-
An easy-to-use platform with a detailed dashboard showing your leads and performance