Illumina Inc News
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Illumina Inc. rose the most in almost 15 months after the maker of genetic decoders reported earnings that exceeded analysts’ estimates on higher sales.
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Thermo Fisher Scientific Inc., the second-biggest maker of life-sciences equipment by market value, agreed to buy Life Technologies Corp. for $13.6 billion in cash in a deal that expands its reach in medical testing.
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Thermo Fisher Scientific Inc. is the leading bidder for Life Technologies Corp., having won exclusive negotiating rights over the weekend with a bid for more than $75 a share, said two people familiar with the matter.
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Life Technologies Corp. got takeover offers from a private-equity group including Blackstone Group LP, and from Thermo Fisher Scientific Inc., for as much as $11.8 billion, said people familiar with the matter.
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Patients who undergo broad DNA testing to explain a specific medical condition also should be told about chance findings that indicate risk for other serious diseases, a group of genetic specialists said.
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The sale of Life Technologies Corp. has shifted in favor of strategic buyers for the maker of DNA- sequencing equipment as some buyout firms drop out, said people with knowledge of the matter.
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Illumina Inc. and nine of its board members were sued in New York over the gene-sequencing equipment maker’s rejection of a $6.7 billion buyout bid from Roche Holding AG.
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Oxford Nanopore Technologies Ltd., the company in a race with Illumina Inc. and Life Technologies Corp. to develop smaller, cheaper and quicker gene-sequencing devices, is facing technical setbacks.
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A takeover of Life Technologies Corp. at one of the lowest multiples on record would still be better for shareholders than no deal at all.
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A buyout group comprising Blackstone Group LP, Carlyle Group, TPG Capital and Temasek Holdings Pte is exploring an offer for Life Technologies Corp., a maker of DNA- sequencing equipment and laboratory materials, said people with knowledge of the matter.
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