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Roche Makes Hostile $5.7 Billion Offer for Illumina

Roche Holding AG offered about $5.7 billion in cash for Illumina Inc. to bolster cancer-drug sales, the third time since 2007 the Swiss drugmaker has made a hostile bid for a U.S. company.

Roche proposed paying $44.50 a share for Illumina, 18 percent more than yesterday’s closing price. It will put the offer directly to shareholders after the San Diego-based company was “unwilling to participate in substantive discussions,” Roche said in a statement today.