Roche starts hostile tender offer for Illumina

Roche (SIX:ROG; OTCQX:RHHBY) began its unsolicited tender offer to acquire sequencing and microarray company Illumina Inc. (NASDAQ:ILMN) for $44.50 per share, or about $5.7 billion in cash. The offer expires on Feb. 24. Illumina said in a statement that shareholders should not take action at this time. The company's board is reviewing the offer and will make a formal recommendation within 10 business days. ...