Swiss pharmaceutical group Roche said Tuesday the US Federal Trade Commission had requested additional information on its hostile $5.7-billion (4.2 billion euros) bid for US gene mapper Illumina. The move means that any acquisition would be delayed by 10 days after Roche complies with the second request. This waiting period can be extended voluntarily by Roche or terminated sooner by the FTC. \"Roche will continue to work closely and cooperatively with the FTC as it conducts its review of the proposed transaction in order to respond to and resolve expeditiously any questions the FTC may have,\" the Swiss company said in a statement. Roche\'s offer ran until February 24 but it has received shares worth only $4.55 million from the US company. It announced on February 27 that it was extending the offer to March 23. Roche said it had received some 102,165 shares at a proposed price of $44.50 a share. The Swiss company said then its price was 64 percent higher that Illumina\'s closing stock price on December 21, 2011 \"the day before market rumours\" about the potential bid drove Illumina\'s stock price significantly higher. Illumina opposes the offer, saying it \"does not reflect Illumina\'s unique leadership position, business performance and future prospects.\" Illumina is a leading provider of integrated systems for DNA sequencing.
GMT 09:43 2018 Tuesday ,23 January
Global unemployment down but working poverty rampantGMT 15:13 2018 Sunday ,21 January
All you need to know about Davos 2018GMT 22:33 2018 Saturday ,20 January
Calls for action over dirty money flowingGMT 04:42 2018 Saturday ,20 January
Storm caused 90 mn euros in damage: Dutch insurersGMT 07:06 2018 Friday ,19 January
China economy rebounds in 2017 with 6.9% growthGMT 11:35 2018 Thursday ,18 January
'Massive' infrastructure spending needed in AfricaGMT 14:29 2018 Wednesday ,17 January
GE takes one-off hit of $6.2 bn linked to insurance activitiesGMT 18:55 2018 Tuesday ,16 January
London stock market edges to new high

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor