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) CEO Jay Flatley tells Bloomberg that while the fiscal cliff will affect a third of the gene-sequencing company's customers, "it's going to probably be
." Flatley also says that Roche going public in January with its $6.7B offer for Illumina stopped the board from properly discussing the offer and possibly put paid to the deal.
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Hugely misleading information. Flatley & the board adopted a poison pill strategy against Roche (illegal in Europe where known to be primarily used to fatten board member purses). Roche was non-receptive to this ploy. The CEO and the board had plenty of time "to properly discuss".
Critique #1: Hiostorically, Flatley selected and kept only board members favorable to managment [over share holders.]
Critue #2: Disingenuousness: Flatley claimed ILMN, [like Roche has already done] would develop DNA tests predictive of medical diseases. Flatley has done nothing here. There are no new DNA applications.
Sep 19, 2012. 02:58 PM
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