Xconomy reports that Roche will no longer on Illumina to embrace its acquisition offer of $51 per share. Now Roche has pledged to walk when its offer expires at 6pm on Friday this week -- having already sweetened its original offer of $44.50 per share.
On the news, Illumina stock dropped 5% today (presumably takeover speculators) and is now trading at $41.83 per share. Illumina says its management team and board is "confident in delivering outperformance relative to guidance and in returning to long-term growth..."
Roche says Bye Bye Baby Bye Bye.
Posted by Bruce Lehr Apr 18th 2012