Illumina gets dose of its own medicine, spurned by Complete Genomics

Gene sequencing specialist Illumina ($ILMN) got a dose of its own medicine. The company, which earlier this year fought off a hostile takeover from Roche ($RHHBY), was itself spurned by a takeover target it badly wanted, The Wall Street Journal reports. Friday, it made the disclosure it had anted up a bid of about $113.3 million in cash for Complete Genomics ($GNOM). That company instead accepted an offer from China-based suitor BGI-Shenzhen. Complete Genomics had revealed in filings it had received a competing bid but indicated it didn't think much of it. The company said that offer was unlikely to pass the antitrust smell test because the unidentified bidder was also one of its key competitors in the U.S. for whole human genome sequencing as an outsourced service, The Wall Street Journal says. In fact, the two companies are in the midst of a legal battle over DNA sequencing patents. In February, Illumina kicked dirt into the face of Roche, which had made a $5.7 billion hostile takeover bid for the San Diego-based company.  Story | More