Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Illumina Says It Was Second Bidder for Complete Genomics

Don't Miss Out —
Follow us on:

Nov. 16 (Bloomberg) -- 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.”

BGI-Shenzhen, a Chinese operator of genome-sequencing centers, agreed to acquire Complete Genomics in September for $3.15 a share, or about $117.6 million, to expand in the U.S. market for medical and research DNA testing. The board of Complete Genomics has unanimously recommended that stockholders accept BGI’s offer.

Illumina, based in San Diego, said in a filing today that its offer was in cash and came without “any condition for further due diligence.”

To contact the reporter on this story: Ryan Flinn in San Francisco at rflinn@bloomberg.net

To contact the editor responsible for this story: Reg Gale at rgale5@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.