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Complete Genomics Inc Rejects Illumina Inc's Buyout Offer-Reuters
Reuters reported that Illumina Inc said smaller peer Complete Genomics Inc 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.
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