Illumina turns down Roche's $5.7B bid

02/7/2012 | Reuters

Illumina's board rejected Roche's $5.7 billion takeover bid and advised shareholders not to tender their shares to Roche. Illumina said the bid undervalued the gene-sequencing firm. Roche called the offer "full and fair" and said it was ready to enter discussions with Illumina.

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