Monday, January 7, 2013

Illumina Plunges As Buyout Hopes Dim

Shares of Illumina Inc. (NASDAQ: ILMN) slumped as much as 8% on Monday after after Roche CEO Franz Humer said that a deal is now "off the table" because the U.S. genetics company is demanding too much. "The other side wasn’t ready to retreat from their totally excessive price demands. Roche doesn’t do acquisitions that don’t create added value. We have self- discipline," German newspaper SonntagsZeitung reported. Illumina would have been a “nice-to-have” deal, not a “must-have” asset, SonntagsZeitung quoted Humer as saying. Illumina reportedly asked Roche for $75 per share and previously asked for $68 per share.

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