Deals
Illumina Drops Below $51 Offer on Concern Roche Will Walk
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Illumina Inc., which has twice rejected unsolicited takeover bids from Roche Holding AG, fell below the $51-a-share current offer as investors grew concerned that the Swiss drugmaker would abandon the deal.
Illumina dropped 5.8 percent to $49.51 at 4 p.m. New York time in the biggest decline for the San Diego-based company since October. Roche raised its offer on March 29 to $51 a share, or about $6.7 billion, from $44.50 in January. It was the first time the shares dipped below the bid price.