Appendix: Strategies from two companies

Just after posting my last update about the fight between Roche and Illumina I read two more interesting news which I would like to share with you.

1. Three important shareholder advisors aid Illumina’s board. Glass Lewis, ISS and Egan-Jones recommend that all shareholders shall support the board by not voting for any of Roche’s candidates to extend the Illumina board. From my point of view this is a clear announcement towards Roche.
2. The current behaviour of Roche is not new. They acquired already two companies in the same way: Genentech & Ventana. Roche always needed to increase the offer per share once and in both cases it took more than 6 months until the deal was signed. Since the discussion about the takeover is public since January I won’t expect a solution now before autumn this year.

On the annual Illumina shareholder meeting this week we will definitely learn how the shareholders react on the recommendations of all advisors and on the offer from Roche.  Will they adopt a clear position? We will know that soon.