Mayb they got wind of acquisition and decided to play sour grapes with comment regarding intend to acquire Illumina. Lest see whatvJay will say in two hours. Having dropped 8% already, if he ups guidance, we could see a short whiplash like no other. The news from Roche was all that the shorts were counting on. I am sure many more joined since Friday and we may ge close to 30 % short. That is huge for a company that is not losing money. Even rimm is not that shorted.
Looks like the deal was to be done at $66 until ILMN boad got greedy.
A Swiss newspaper, L’Agefi, reported last month that the companies had agreed to a $66-a-share deal. Illumina asked for $68 a share on Dec. 28 and $75 a share on Jan. 3, L’Agefi reported today on its Twitter feed, without saying where it got the information.