Roche faces more antitrust scrutiny over Illumina takeover bid
Roche has received a request for additional information, often referred to as a 'second request', from the Federal Trade Commission (FTC) in connection with the company's proposed acquisition of Illumina, a developer of products for the analysis of genetic variation and function. The latest request seeks additional information regarding Roche's microarray business.
The effect of the request is to extend the waiting period imposed by the HSR Act until ten days after Roche has substantially complied with the request. Roche says it will continue to work closely and co-operatively 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.
In January, Roche began a hostile US$44.50 per share, US$5.7 billion takeover for Illumina. So far, Illumina has rebuffed all attempts by Roche to agree to the takeover plans.