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Thursday, November 1, 2018

=Pacific Biosciences (PACB) to be acquired by Illumina (ILMN) for $8.00/share

  • Update Jan 02, 2020 NEW YORK – Illumina and Pacific Biosciences announced Thursday after the close of the market that they have "mutually agreed" to terminate their merger agreement.
  • In a joint statement, the firms cited a "lengthy regulatory approval process" and "continued uncertainty of the ultimate outcome" in their decision, which they said "is in the best interest of their respective shareholders and employees."
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  • Oct. 30: #1, 5; vol. 777K



Pacific Biosciences to be acquired by Illumina (ILMN) for $8.00/share in cash, or approximately $1.2 bln
With its acquisition of Pacific Biosciences, Illumina will be positioned to provide integrated workflows and novel innovations that bring together the best of both technologies to help researchers advance their discoveries faster and clinicians offer new tests economically. The transaction is subject to approval by the shareholders of Pacific Biosciences, as well as other customary closing conditions, including applicable regulatory approvals. Illumina expects to close the transaction in mid-2019.

Pacific Biosciences misses by $0.04, misses on revs;


  • Reports Q3 (Sep) loss of $0.19 per share, $0.04 worse than the S&P Capital IQ Consensus of ($0.15); revenues fell 22.9% year/year to $18.16 mln vs the $22.39 mln S&P Capital IQ Consensus.
  • Illumina (ILMN) will acquire Pacific Biosciences at a price of $8.00 per Pacific Biosciences share in an all-cash transaction. This price represents a premium of 71% to Pacific Biosciences' 30 trading day volume weighted average share price as of the market close on October 31st, 2018, and a total enterprise value of approximately $1.2 billion on a fully diluted basis.


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