Complete Genomics (GNOM +2.3%) rejects Illumina's (ILMN) $114M bid despite the $3.30/share offer...

|About: Complete Genomics, Inc. (GNOM)|By:, SA News Editor

Complete Genomics (GNOM +2.3%) rejects Illumina's (ILMN) $114M bid despite the $3.30/share offer exceeding a $3.15 agreed proposal from China's BGI-Shenzhen. Illumina's bid is also not dependent on funding, nor is it subject to government approval as a foreign investment. Illumina "cannot comprehend" how GNOM "could rationally come to the conclusion" Illumina's offer is not superior. GNOM's shareholders may well agree.