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MENAFN - - 27/02/2012

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(MENAFN) Swiss drug maker Roche Holding AG recently made a USD5.7 billion hostile takeover bid for Illumina Inc., Bloomberg reported.

Roche said it gave shareholders will have until March 23 to tender their stock at USD44.50 per share.

Illumina rejected a previous acquisition approach from Roche, which expired on February 24, considering it "grossly inadequate, subsequently Roche went directly to shareholders of Illumina.

Buying the maker of gene-mapping tools Illumina would expand Roche's diagnostic products, potentially allowing the company to better target its medicines to individual patients.

Illumina will introduce a machine capable of scanning a person's complete DNA within a day by the end of this year, the company said in January.

 






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