Wednesday, January 25, 2012

Illumina Gets a Hostile Bid

Illumina (ILMN) in the news this morning. Headline: "The Swiss drug maker Roche Holding made a $5.7 billion hostile bid on Tuesday (02012.01.24) for Illumina."
“Roche’s all-cash offer of $44.50 per share represents full and fair value for Illumina,” Severin Schwan, Roche’s chief executive, said in a statement, “and we expect that Illumina’s shareholders will welcome the opportunity to sell their shares at a significant premium to current market prices.”

I disagree with Roche's CEO. $44.50 per share would be stealing the company. Let's start the bidding at ILMN's 52-week high of $79.40.

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2 comments:

  1. Gerald ThurmanJanuary 25, 2012 at 6:51 AM

    I guess other investors agreed with my opinion that Roche is trying to steal ILMN by offering $44.50 per share. ILMN, which closed yesterday (02012.01.24) at $37.69, gapped opened today at $52.60, up almost 40%.

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  2. Gerald ThurmanJanuary 25, 2012 at 10:46 AM

    This comes as no surprise... Headline: "Glancy Binkow & Goldberg LLP Announces Investigation of Illumina, Inc. Business Wire (Wed 1:18PM EST)"

    ILMN at $54.48 Up $16.79(44.57%) 1:43PM EST - Nasdaq Real Time Price

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