Roche’s offer of $44.50 per share for Illumina (NASDAQ:ILMN), which has been extended to March 23, undervalues its worth, according to the targeted company. Illumina previously rejected the offer, and says that it expected the extension, given the low number of shares that have been offered by Roche.
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An AES Corp. (NYSE:AES) subsidiary that operates a combined-cycle natural gas-fired power plant in Pennsylvania, has been purchased by PPL Corp. (NYSE:PPL) at a cost of $304 million, which includes an $87 million cash consideration.
Tibet Pharmaceuticals’ (TBET) CEO Hong Yu announces the firm’s intent to accept a “going private” proposal, and he offers to purchase all other stock holders’ shares at $3.00. His proposal for the company’s going private is based on a “market bias” towards Chinese companies listed on U.S. stock exchanges, combined with the performance of its stocks in the past.
TV Guide Network and TVGuide.com, owned by Lions Gate (NYSE:LGF), are targets for acquisition by CBS (NYSE:CBS) and Discovery (NASDAQ:DISCA), according to NY Post sources, who also estimate that the network could bring Lions Gate as much as $350 million, and TVGuide.com $50 million.
Closely held Alacer Corp. is being acquired by Pfizer (NYSE:PFE). Alacer produces dietary supplements including the vitamin C product Emergen-C, and comprised 4.5 percent of PFE’s 2011 revenue. PFE’s consumer healthcare chief says the purchase will “… add to and greatly complement our market-leading dietary supplement portfolio”.
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