Latest Illumina rejection stings Roche

The dance continues. Illumina ($ILMN) is standing firm against Roche's ($RHHBY) ongoing attempts to take it over. The Illumina board has urged the rejection of the Swiss giant's increased offer of $51 per share. Roche expressed disappointment in the recalcitrance of the board. "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," said Roche CEO Severin Schwan in a statement. Roche release

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