Press Release November 02, 2018

Pacific Biosciences to be Acquired by Illumina for Approximately $1.2 Billion

Goodwin represented Centerview Partners LLC in its role as financial advisor to Pacific Biosciences (NASDAQ:PACB) in connection with Pacific Biosciences announced agreement to be acquired by Illumina, Inc. (NASDAQ: ILMN) at a price of $8.00 per Pacific Biosciences share in an all-cash transaction. This price represents a premium of 71% to Pacific Biosciences’ 30 trading day volume weighted average share price as of the market close on October 31, 2018, and a total enterprise value of approximately $1.2 billion on a fully diluted basis.

The agreement has been approved by the board of directors of Illumina and Pacific Biosciences. The transaction is subject to approval by the shareholders of Pacific Biosciences, as well as other customary closing conditions, including applicable regulatory approvals and is expected to close in mid-2019.

Centerview Partners is a leading independent investment banking and advisory firm. The firm provides advice on mergers and acquisitions, financial restructurings, valuation, and capital structure to companies, institutions and governments. Since the founding of Centerview in 2006, the firm has advised on over $2.5 trillion of transactions.

Pacific Biosciences of California, Inc. offers sequencing systems to help scientists resolve genetically complex problems.

The Goodwin team representing Centerview in mergers and acquisitions matters consists of partners Stuart Cable, James Matarese, Blake Liggio and Deborah Birnbach.

For additional details on the transaction, please read the press release.