Reuters: Deals: FTC asks Roche for additional information on Illumina bid

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FTC asks Roche for additional information on Illumina bid Mar 13th 2012, 23:19 Tue Mar 13, 2012 7:19pm EDT (Reuters) - Swiss drugmaker Roche Holding AG (ROG.VX) said it received a request for additional information from the Federal Trade Commission (FTC) related to its $5.7 billion hostile cash bid for U.S. gene decoder Illumina Inc (ILMN.O). The request extends the waiting period on the proposed transaction by 10 days after Roche provides the information requested by the FTC, unless it is extended voluntarily by Roche or terminated sooner by the FTC. Illumina has adopted a "poison pill" defense strategy for Roche's unsolicited bid, and has advised shareholders not to tender any of their shares on the grounds the price was too low. Roche said it will continue to work cooperatively with the FTC as it conducts its review of the proposed transaction.

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