Illumina, Inc. Investor Alert: Investigation of Buyout Bid

Jan. 26, 2012 - PRLog -- The Shareholders Foundation announces that an investigation for investors in Illumina (ILMN) shares was launched concerning whether the offer to acquire Illumina Inc. for $44.50 per share and the buyout process are unfair to investors in NASDAQ-ILMN).

Investors who purchased Illumina, Inc.  shares, have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 – 1554.

The investigations by law firms concern whether Illumina, certain officers and directors, and/or others breached their fiduciary duties to NASDAQ-ILMN investors in connection with the proposed acquisition.

On January 24, 2012, Roche announced that it is proposing to acquire all outstanding shares of Illumina, Inc.  for $44.50 per share in cash, or an aggregate of approximately $5.7 billion on a fully diluted basis.

Following the takeover proposal shares of Illumina, Inc. (Public, NASDAQ-ILMN) jumped from $37.68 per share on Tuesday above the current offer and closed as high as $55.15 on Wednesday.

Therefore the investigation for ILMN investors focuses on whether the offer by Roche undervalues NASDAQ-ILMN shares given also past recent stock prices for NASDAQ-ILMN shares.
In fact, ILMN shares traded as recently as September 14, 2011 with $51.59 per share significantly above the current offer. In fact, ILMN shares traded during 2011 as high as $74.74 on July 22, 2011 and as high as $77.88 per share on July 6, 2011. In addition at least one analyst has set the high target price for NYSE-ILMN shares as high as $80 per share.

Those who are current investors in Illumina, Inc. (Public, NASDAQ-ILMN) shares, have certain options and should contact the Shareholders Foundation.

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The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.