November 1, 2018 / 8:19 PM / 13 days ago

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

(Reuters) - Gene sequencing company Illumina Inc (ILMN.O) said here 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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