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Apr 10th
2021
Illumina And Pacific Biosciences Announce Termination Of Merger Agreement
Posted by Lisa with Comments Off on Illumina And Pacific Biosciences Announce Termination Of Merger Agreement filed under Uncategorized

This publication is available at www.gov.uk/government/publications/analysis-of-the-investigation-of-the-proposed-acquisition-of-pacbio-by-illumina/looking-forward-to-the-future-investigating-the-proposed-acquisition-of-pacbio-by-illumina This paper is published in reference to the planned transaction with Pacific Biosciences (California, Inc. and Illumina, Inc.). As part of the proposed transaction, the Company intends to submit relevant documents to the Securities and Exchange Commission (SEC), including a proxy statement. Immediately after filing its final power of attorney with the SEC, the company will send the final proxy and a proxy card to each of PacBio`s voters during the special session on the proposed transaction. This press release does not replace the proxy statement or any other document that PacBio may submit to the SEC or send to its shareholders as part of the proposed transaction. BEFORE PRODUCING A VOTING DECISION, PACBIO SHAREHOLDERS ARE URGED TO READ THESE MATERIALS (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS IN CONNECTION WITH THE PROPOSED TRANSACTION THAT PACBIO WILL FILE WITH THE SEC WHEN THEY BECOME AVAILABLE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT PACBIO AND THE PROPOSED TRANSACTION. PacBio shareholders may receive free copies of the proxy statement (if available) and other relevant documents that PacBio files with the SEC on the Seques website (www.sec.gov). Free copies of the proxy statement, if available, and other PacBio registrations to the SEC can also be obtained from the Investor Relations section of the PacBio website (www.pacificbiosciences.com) or through a request to PacBio, Attn: Investor Relations, 1305 OBrien Drive, Menlo Park, California 94025. Illumina Inc. ILMN, up 1.59% and Pacific Biosciences of California Inc.

PACB, up 2.46% on Thursday said they have agreed to drop plans to merge. Under the merger agreement announced on November 1, Illumina reportedly paid $1.2 billion in cash to Pacific Biosciences. The news sent Pacific Biosciences shares down 3% in post-boursegos trading. The lengthy administrative approval process required for the transaction “has already been subject to persistent uncertainty as to the final outcome,” the companies said in a joint press release. As part of the merger agreement, Illumina Pacific will pay a $98 million termination tax. The announcement was made after the close of the stock exchange. The CMA`s investigation therefore provisionally concluded that the transaction would lead to a CLC, which would result in less incentive for competition from the meris and a decrease in customer choice, higher prices (or a slowdown in the reduction in sequencing costs), a deterioration in quality, a deterioration in the services provided and/or a loss (or reorientation). [Note 4] This cooperative approach with other competition authorities is likely to become increasingly important to the CMA in the coming years, as we take responsibility for an increasing number of global mergers, which will also be discussed elsewhere.



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