Blijkbaar is het bod van Roche van $44.50 per aandeel of $5.7 billioen veel te laag gezien de koers prompt bij opening rond de $52 stond.
Nu zelfs al op $53.76 +16.08 (42.66%)
Illumina (ILMN) likely to Spurn Roche’s Unsolicited Offer of $5.7 Bln.
Healthcare company Illumina Inc. (ILMN) will most likely to spurn Swiss-based pharmaceutical company Roche's unsolicited bid to buy the company for $44.50 a share or $5.7 billion. The opinion gathered momentum in view of Roche's disclosure that Illumina has not shown any willingness to engage in discussion for a negotiated price. The stock price skyrocketed more than the offer price to reach higher than $50.00 in the pre-market trading activities after the news broke out.
The sentiment is clearly visible from the way stock is moving. The investors will be expecting a much better offer from Roche as the stock is about 44 percent below the 52-week high price. This is enough for the board as well as investors to seek higher bid price. It remains to be seen whether Roche will offer the 52-week high price leave alone paying a premium over the yearly high price.
The San Diego, California-based Illumina has advised its shareholders not to tender their shares to Roche's offer until its board evaluate the offer and take a decision. The company indicated that Goldman Sachs and Bank of America Merrill Lynch are engaged in financial advising, while Dewey & LeBoeuf is its legal counsel.
The interest of Roche on Illumina has been doing the rounds since December 22. Roche had also taken a note of this to indicate that its offer price carries a premium of 64 percent before the speculation came to the fore. But the offer price of $44.50 represents 18 percent premium from January 24 closing price of $37.69. Interestingly, the stock witnessed 52-week high of $79.40. This clearly indicates that Illumina might come out to say that the offer price is below the yearly high price.
Roche has been showing interest in Illumina to extend its strength in technology in the genetic field so that it could provide treatment suited for individual patients. The proposal by Roche is also aimed at having a stronger presence in life science space.
The Swiss company also believes that the acquisition would provide Illumina's facilities of worldwide distribution besides its diagnostic test development expertise for the development of new diagnostic tests. Roche is also planning to have its members on the board even before the company could get a positive response from the shareholders.
Illumina, which was founded in 1998 and launched IPO in 2000, generated revenues of $902.7 million for the year 2010. For the nine-month period ended October 2, 2011, the company recorded revenues of $805.46 million.
The company has established a wide-ranging products line to address the scale of testing and breadth of functional examination for advanced disease research, drug development besides development of molecular tests. Illumina's wide portfolio of leading-edge sequencing and collection-based solutions address a range of genomic complexity and throughputs thus allowing researchers the option to chose best solution for their scientific challenge.
Analisten waarderen de koers nu op en dit gaande van $60 - $70
llumina (NASDAQ: ILMN) was upgraded by research analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a report issued on Wednesday. They currently have a $60.00 price target on the stock, up from their previous price target of $33.00.
Separately, analysts at JPMorgan Chase & Co. (NYSE: JPM) raised their price target on shares of Illumina to $70.00 in a research note to investors on Wednesday. Analysts at Oppenheimer (NYSE: OPY) reiterated a “market perform” rating on shares of Illumina in a research note to investors on Wednesday. Also, analysts at Goldman Sachs (NYSE: GS) reiterated a “neutral” rating on shares of Illumina in a research note to investors on Friday, January 20th.
Illumina, Inc. (Illumina) is a developer and manufacturer of life science tools and integrated systems for the analysis of genetic variation and function. The Company provides a line of genetic analysis solutions, with products and services that serve a range of interconnected markets, including sequencing, genotyping, gene expression, and molecular diagnostics. The Company is organized in two business segments: Life Sciences and Diagnostics. Its Life Sciences business unit includes all products and services related to the research market, namely the product lines based on its sequencing, BeadArray, VeraCode, and real-time PCR technologies. Its Diagnostics business unit focuses on molecular diagnostics. Its customers include genomic research centers, academic institutions, government laboratories, and clinical research organizations. In January 2011, the Company acquired Epicentre Technologies Corporation. In April 2010, the Company purchased Helixis, Inc.
Illumina opened at 37.685 on Wednesday. Illumina has a 52-week low of $25.57 and a 52-week high of $79.40. The stock has a 50-day moving average of $31.07 and a 200-day moving average of $40.8. The company has a market cap of $4.576 billion and a price-to-earnings ratio of 48.31.
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