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Illumina (ILMN) Stock Gains on Thermo Fisher Takeover Speculation

NEW YORK (TheStreet) -- Shares of Illumina (ILMN) were advancing early Thursday afternoon after Thermo Fisher Scientific (TMO) reportedly expressed interest in acquiring the company.

Thermo Fisher offered $30 billion for the San Diego-based gene-sequencing equipment manufacturer, according to Bloomberg.

Thermo Fisher's bid is comprised entirely of stock.

However, Wells Fargo said in a note cited by Barron's that the speculation "makes no sense."

The firm said a merger would be dilutive to Thermo Fisher in the first year and would struggle to become neutral to...


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