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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Illumina, Inc.    ILMN

ILLUMINA, INC.

(ILMN)
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Illumina abandons $1.2 billion deal to buy rival Pacific Biosciences

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01/02/2020 | 04:48pm EST
The offices of gene sequencing company Illumina Inc are shown in San Diego, California

Illumina Inc on Thursday agreed to terminate the $1.2 billion (913.4 million pounds) deal to buy smaller rival Pacific Biosciences of California Inc, weeks after the U.S. competition watchdog filed a complaint to block the purchase.

Gene sequencing company Illumina would pay Pacific Biosciences $98 million for the terminated deal, which was announced in 2018 and had attracted scrutiny from antitrust authorities in the United States and UK, both the companies said in a joint statement.

Illumina is a major player in the nascent gene sequencing space, which involves analysing the genome, and can among other uses, identify inherited disorders and markers of disease progression.

In its complaint last month, the U.S. Federal Trade Commission raised concerns that Illumina wanted the deal in order to prevent Pacific Biosciences from developing into a competitor in the market for next-generation DNA sequencing.

(Reporting by Saumya Sibi Joseph in Bengaluru; Editing by Shounak Dasgupta)

Stocks mentioned in the article
ChangeLast1st jan.
DNA OYJ 0.19% 20.9 Delayed Quote.0.00%
ILLUMINA, INC. -0.38% 324.72 Delayed Quote.-2.12%
PACIFIC BIOSCIENCES OF CALIFORNIA, INC. -1.19% 4.98 Delayed Quote.-3.11%
TELENOR -0.84% 165.1 Delayed Quote.5.81%
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Financials (USD)
Sales 2019 3 529 M
EBIT 2019 1 048 M
Net income 2019 978 M
Finance 2019 2 525 M
Yield 2019 -
P/E ratio 2019 49,3x
P/E ratio 2020 49,0x
EV / Sales2019 12,8x
EV / Sales2020 11,2x
Capitalization 47 734 M
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Mean consensus OUTPERFORM
Number of Analysts 20
Average target price 343,58  $
Last Close Price 324,72  $
Spread / Highest target 20,1%
Spread / Average Target 5,81%
Spread / Lowest Target -12,2%
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Managers
NameTitle
Francis A. deSouza President, Chief Executive Officer & Director
Jay T. Flatley Executive Chairman
Robert P. Ragusa Senior Vice President-Global Quality & Operations
Sam A. Samad Chief Financial Officer & Senior Vice President
Mostafa Ronaghi Chief Technology Officer & Senior Vice President
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