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Gene sequencing company Illumina to buy Pacific Biosciences in $1.2 billion deal

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Gene sequencing company Illumina to buy Pacific Biosciences in $1.2 billion deal

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(Reuters) - Gene sequencing company Illumina Inc <ILMN.O> said http://pdf.reuters.com/htmlnews/htmlnews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20181101:nBw18KCRQa on Thursday it plans to buy Pacific Biosciences of California Inc <PACB.O> in an all-cash deal valued at $1.2 billion.

Illumina's offer of $8 per Pacific share represents a premium of about 77 percent to Pacific's Thursday close.

(Reporting by Ankur Banerjee in Bengaluru; Editing by Shounak Dasgupta)

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