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Illumina's $1.2B Pacific Biosciences merger waiting period extended by FTC

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Illumina's $1.2B Pacific Biosciences merger waiting period extended by FTC

The waiting period to complete Illumina Inc.'s $1.2-billion acquisition of Pacific Biosciences of California Inc. will be extended after the U.S. Federal Trade Commission requested additional information from the companies.

San Diego-based Illumina and gene sequencing company Pacific Biosciences said the waiting period for the completion of the merger will begin after being in compliance with FTC's request.

In November 2018, Illumina said it will acquire Menlo Park, Calif.-based Pacific Biosciences for $8 per share in an all-cash transaction.

The companies still expect the merger will be completed by midyear.