Reuters: Mergers News: Roche says disappointed by Illumina bid rejection

Reuters: Mergers News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Roche says disappointed by Illumina bid rejection Apr 3rd 2012, 09:08 ZURICH, April 3 | Tue Apr 3, 2012 5:08am EDT ZURICH, April 3 (Reuters) - Roche said it is disappointed by Illumina Inc.'s rejection of its sweetened offer, which values the genetic sequencing company at roughly $6.7 billion. "Roche's increased offer is highly attractive. By not engaging with Roche, Illumina reinforces the notion that its board and management are determined to preserve their positions rather than maximize shareholder value," the Swiss drugmaker's Chief Executive Severin Schwan said in a statement on Tuesday.

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