By Marcus Leach
Reports suggest that Swiss drug maker Roche will make an offer of $5.7 billion (£3.7 billion) for DNA research company Illumina.
The offer, which is for $44.50 per share, would represent an 18% premium over the closing price of Illumina shares on Tuesday.
"Roche's all cash offer represents full and fair value for Illumina," said the firm's chief executive Severin Schwan.
"It is our strong preference to enter into a negotiated transaction, and we remain willing to engage in a constructive dialogue to jointly develop an optimal strategy for maximising the value of combined business."
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