Illumina’s Board of Directors to Review Unsolicited Tender Offer from Roche
SAN DIEGO– Illumina, Inc. (NASDAQ:ILMN) (“the Company”), a leading developer, manufacturer, and marketer of life science tools and integrated systems for the analysis of genetic variation and function, today confirmed that Roche (RHHBY.PK) has commenced its previously announced unsolicited tender offer to acquire all of the outstanding shares of Illumina’s common stock for $44.50 per share in cash.
As indicated following Roche’s announcement of its proposal on January 24, 2012, Illumina’s Board of Directors, consistent with its fiduciary duties and in consultation with its financial and legal advisors, will thoroughly review the offer to determine a course of action that it believes is in the best interests of Illumina stockholders. The Board intends to advise stockholders of its formal position regarding the tender offer within ten business days by making available to stockholders and filing with the Securities and Exchange Commission a solicitation/recommendation statement on Schedule 14D-9. Illumina’s stockholders are advised to take no action at this time pending the review of the tender offer by the Company’s Board.
Illumina reaffirmed the preliminary unaudited fourth quarter and 2011 fiscal year financial results disclosed at the JP Morgan Healthcare Conference on January 10, 2012, including fourth quarter revenue of approximately $250 million and fourth quarter estimated pro forma earnings of $0.34 per share. Also as disclosed at the JP Morgan Healthcare Conference, the Company reaffirmed its expectation that it will meet or exceed equity analyst estimates for 2012 and will resume providing guidance on its fourth quarter earnings call.
In light of the commencement of Roche’s unsolicited tender offer, Illumina also announced that it will postpone its previously scheduled fourth quarter and fiscal year 2011 earnings announcement and related conference call with analysts, investors, and other interested parties. The Company expects to issue fourth quarter and 2011 full year financial results concurrent with the Board’s completion of its review of Roche’s unsolicited tender offer and the issue of its recommendation.
Goldman, Sachs & Co. and Bank of America Merrill Lynch are acting as financial advisors and Dewey & LeBoeuf LLP is acting as legal counsel to Illumina.
About Illumina
Illumina (www.illumina.com) is a leading developer, manufacturer, and marketer of life science tools and integrated systems for the analysis of genetic variation and function. We provide innovative sequencing and array-based solutions for genotyping, copy number variation analysis, methylation studies, gene expression profiling, and low-multiplex analysis of DNA, RNA and protein. We also provide tools and services that are fueling advances in consumer genomics and diagnostics. Our technology and products accelerate genetic analysis research and its application, paving the way for molecular medicine and ultimately transforming healthcare.

