NEW YORK - With the broad S&P 500 Index gliding once again into uncharted territory and posting four straight weeks of gains, the talk of Wall Street's rally inevitably hitting a ceiling is starting to get old.
LONDON - From ketchup to hot drinks, family-run investment firms are shaking up the consumer deals market, squeezing out private equity players and forcing them to change strategy.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.
Illumina says Complete Genomics rejects buyout offer
(Reuters) - Genetic sequencing company Illumina Inc (ILMN.O) said smaller peer Complete Genomics Inc GNOM.O rejected its takeover bid of about $114 million.
Complete Genomics had agreed to be bought by China's BGI-Shenzhen in September for $3.15 per share, three months after the gene sequencing company started a strategic review.
Illumina on Friday revealed its bid of $3.30 per Complete Genomics share.
In a filing on Wednesday, Illumina said its bid was superior and unlike the BGI bid, was not contingent on financing or subject to government approval as a foreign investment.
Shares of Illumina closed at $50.52 on Tuesday, while those of Complete Genomics closed at $3.09 on the Nasdaq.
(Reporting by Balaji Sridharan in Bangalore; Editing by Supriya Kurane)
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