The European Commission last year blocked Illumina's $7.1 billion acquisition of Grail over concerns it would stifle innovation and consumer choice.
The European Commission last July alleged that closing the Grail acquisition was a "serious breach" of E.U. merger regulation that could lead to "hefty fines." Two months later, the commission
the deal over concerns it would stifle innovation and consumer choice in the emerging market for cancer detection tests.the European Commission's decision, arguing that the agency lacks jurisdiction to block the merger between the two U.S. companies. Illumina expects a final decision on an appeal in late 2023 or early 2024. That's also when the company expects a decision on its appeal of aStill, the company has said it will divest Grail if it loses either appeal.
Executive Vice President of the European Commission for A Europe Fit for the Digital Age Margrethe Vestager is talking to media in the Berlaymont, the EU Commission headquarter on September 6, 2022 in Brussels, Belgium.
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