Looks like Roche want a chunk of Illumina. There are press releases on both companies websites (Illumina and Roche) about Roches offer. There is little on the Illumina release except confirmation about the unsolicited acquisition proposal at $44.50 per share, this amounts of $5.7Bn according to Roche and is a 64% premium on current stock price.
Roche speak about the combination of the two companies and a strengthening of diagnostics potential. They also state that the will merge headquarters to the San Diego Illumina site (who incidentally just built nice new offices).
The press release quotes Roche's CEO Severin Schwan as saying "It is our strong preference to enter into a negotiated transaction with Illumina, and we remain willing to engage in a constructive dialogue" whether Illumina are so eager is another thing entirely.
Dear Jay... the press release finishes with a letter from Franz Humer (Roche Chairman) to Jay Flatley (Illumina CEO). It says a lot about the unwillingness of Illumina to engage and how great the merger will be for both companies.
I had also heard that Qiagen were hovering over Illumina. Illumina have been incredibly successful over the past five or six years, I am not surprised someone is wiling to pay a lot of money to buy them. Is $44.50 good enough? I am not sure, especially given the price was nearly $80 last Summer.