Swiss drug maker Roche has brought in Brunswick to bolster its $5.7B hostile pursuit of gene sequencing company Illumina, which rejected the overture this week as “grossly inadequate.”
Sard Verbinnen & Co. is working with San Diego-based Illumina.
Roche said Feb. 8 it is disappointed in Illumnia’s rejection, but will move ahead with its nomination of a slate of board candidates to tip the balance in its favor.
In addition to Brunswick’s New York office, which is handling U.S. media, Roche has engaged the proxy firm MacKenzie Partners.
Reuters said Roche may have to raise its $45.50-per-share bid to as much as $60, but noted Roche is “digging in for a long fight.”