Mergers and Acquisitions Recap: Illumina Courted, Big Beer Chatter

Continuing its bid to acquire Illumina (NASDAQ:ILMN), Roche (RHHBY.PK) sends letters to the latter’s shareholders, in which Roche says that its $51 a share bid “represents a significant premium to where Illumina would likely trade on a standalone basis and provides certainty of value through an all-cash payment to Illumina’s shareholders.”

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In a move in its campaign for a merger with American Airlines (AAMRQ.PK), US Airways (NYSE:LCC) is said to have promised certain creditors that such a link-up could bring $1.5 billion in synergies. However, it has been noted that US Airways’ efforts could make its quarry’s bankruptcy take longer, if they overly complicate matters.

Diabetes drug firm Amylin Pharmaceuticals (NASDAQ:AMLN) has rejected a $22/share bid from Bristol-Myers (NYSE:BMY), but on Tuesday Carl Icahn, Amylin’s biggest shareholder, urged the company to ‘pursue a sale process’. The investor activist calculates that Amylin could bring more than $22 a share with the right buyer, which would amass approximately $3.5 billion.

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French utility concern GDF Suez (GDFZY.PK) offers $9.5 billion for a 30 percent investment in British International Power (IPRPY.PK), but is turned down. As a consequence, GDF says now that it might just walk away.

Big beer news – a merger between Anheuser-Busch InBev (NYSE:BUD) and SABMiller (SBMRF.PK) might still happen, according to a word from Societe Generale to its clients. Such an event could be the biggest deal ever for the industry, and the recent decision of BUD to not exercise its option to acquire StarBev before Molson could make an offer, seems to be igniting the latest rumor.

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To contact the reporter on this story: Mark Lawson at

To contact the editor responsible for this story: Damien Hoffman at