I’m really interested to see if Roche comes back to the table after Illumina (ILMN) rejected their $6.7 billion offer. Illumina has an amazing track record of revenue growth in an exciting market as a maker of DNA sequencers. While the company is profitable, these acquisition are far more about the technology and future growth, than a reasonable multiple on earnings. Roche has a history of eventually getting what they want so I wouldn’t be surprised if they resurface after a little time has passed, particularly if Illumina doesn’t receive a higher bid in the interim.
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