Roche Responds to Illumina Board, Says Confident Holders Will See Value in Offer

Roche RHHBY today responded to an announcement from Illumina ILMN that its Board of Directors has adopted a shareholder rights plan. Although not unexpected, Roche is disappointed that the Illumina Board of Directors has been unwilling to participate in substantive discussions with Roche regarding a negotiated transaction and has instead adopted this shareholder rights plan in response to the offer to acquire Illumina. Roche's all-cash offer represents a substantial premium and Roche is confident that Illumina shareholders will see the value of the offer.