Illumina Says It Was Second Bidder for Complete Genomics
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Illumina Inc., the U.S. leader in genetic sequencing, said it had offered $3.30 a share to acquire rival Complete Genomics Inc., or 5 percent more than the bid from BGI-Shenzhen that was accepted by the company.
Complete Genomics considered Illumina’s offer “inadequate” because of the likelihood the deal wouldn’t receive clearance from antitrust regulators, the Mountain View, California-based company said today in a filing. The company named the bidder only as “Party H.”