Sep. 12 at 12:10 PM
$PACB
Wondering if they ever go back to the table?
In 2018
$ILMN wanted to buy PacBio for
$1.2B
Todays market cap, that would be about
$3.70 per share if my math is correct.
Reasons for the failed merger.
Regulatory pushback: Both the U.S. Federal Trade Commission (FTC) and the U.K. Competition and Markets Authority (CMA) challenged the acquisition.
Monopoly concerns: The FTC argued that Illumina was trying to unlawfully maintain its near-monopoly in the next-generation DNA sequencing market by eliminating PacBio as a rising competitive threat.
Faced with a lengthy and uncertain regulatory process, Illumina and PacBio mutually agreed to terminate the merger in January 2020. Illumina paid PacBio a
$98 million termination fee.
