Editions:  Austria · Denmark · France · Germany · Italy · Norway · Spain · Sweden · Switzerland

Roche could withdraw hostile Illumina bid

Share this article

Roche could withdraw hostile Illumina bid
08:41 CEST+02:00

Swiss pharmaceutical giant Roche could withdraw its takeover bid for US gene mapper Illumina, the SonnatgsZeitung reported on Sunday, citing sources close to the deal.

"Illumina would be an interesting business to acquire for Roche, but it is not essential to its development," the unnamed source told the paper.

The Basel-based giant launched its bid -- previously estimated at $5.7 billion -- for Illumina on January 25th.

But the US provider of integrated systems for DNA sequencing, had opposed the hostile move saying Roche's offer price was too low.

On Thursday, Roche increased its offer price by 15 percent but it is not clear if the sweetened proposal will persuade Illumina's leadership to back the takeover.

According to SonnatgsZeitung, Roche will not increase its offer again.

"The adverse party (Illumina) can be assured that Roche will not continue this game for long," the paper quoted another source as saying.

Get notified about breaking news on The Local

Share this article

From our sponsors

Change the world with a master's degree from Sweden's Linköping University

Master's students at world-leading Linköping University (LiU) aren't there simply to study. They solve real-world problems alongside experts in fields that can create a better tomorrow. Do you have what it takes to join them?