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ILMN / Illumina retains ‘Buy' rating from Canaccord as activist investor Carl Icahn prepares for face-off

Analysts at Canaccord Genuity (TSX:CF, LSE:CF) have reiterated their ‘Buy' rating and $300 price target for Illumina Inc (NASDAQ:ILMN) after activist investor Carl Icahn said he is preparing a proxy fight at the gene sequencing company after its acquisition of Grail Inc wiped $50 billion of value from its market capitalization. In an open letter to shareholders published Monday, and first reported by the Wall Street Journal, Icahn announced his intention to nominate three directors to Illumina's board at its upcoming annual shareholders' meeting to weigh in on the decision to oppose a European Commission (EC) order to unwind the August 2021 takeover of Grail, a cancer-detection test maker. Read More

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Illumina

Retains

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Canaccord

Activist

buy

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Face off

Stock

ILMN

Posted: Mar 14 2023, 14:41

Author Name: Proactive Investors

ILMN News

By Zacks Investment Research
October 26, 2023

LGND vs. ILMN: Which Stock Is the Better Value Option?

Investors looking for stocks in the Medical - Biomedical and Genetics sector might want to consider either Ligand Pharmaceuticals (LGND) or Illumina (

By Zacks Investment Research
October 20, 2023

Is the Options Market Predicting a Spike in Illumina (ILMN) Stock?

Investors need to pay close attention to Illumina (ILMN) stock based on the movements in the options market lately.

By Reuters
October 17, 2023

Activist Icahn sues Illumina board over Grail acquisition - FT

Activist-investor Carl Icahn said his firm had sued current and former board directors at Illumina concerning the acquisition of gene-sequencing compa

By Market Watch
October 13, 2023

Illumina responds to EC Grail divestiture order

Illumina Inc. ILMN, -1.10% responded Friday to an order it received Thursday from the European Commission directing the company to divest its $7.1 bil

By Reuters
October 13, 2023

Illumina to divest cancer test maker Grail if it does not win challenge in EU court

Illumina said on Friday it would divest cancer test maker Grail in 12 months, according to the terms of the order by the European Commission, if it do

By Proactive Investors
October 12, 2023

Illumina ordered by European Commission to sell cancer test maker Grail

Illumina Inc (NASDAQ:ILMN), a genetic testing company, has been ordered by EU antitrust regulators to sell Grail after closing its takeover of the can

By Reuters
October 12, 2023

Illumina ordered by EU antitrust regulators to sell Grail

U.S. genetic testing company Illumina has been ordered by EU antitrust regulators to sell cancer test maker Grail after it completed the deal before s

By Reuters
October 11, 2023

Illumina to divest Grail if it loses final court appeals

Illumina Inc said on Wednesday it will divest Grail if the company loses the final appeals in U.S. or European courts.

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