EU
antitrust regulators set July 27 deadline for Illumina,
Grail deal
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[June 17, 2021]
By Foo Yun Chee
BRUSSELS (Reuters) - EU antitrust
regulators will rule by July 27 whether to clear Illumina Inc's proposed
$7.1 billion acquisition of cancer test maker Grail Inc, a European
Commission filing showed on Thursday.
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U.S. life sciences company Illumina, which is also challenging the
EU watchdog's decision to review the deal even though it does not
meet the EU revenue criteria, filed for EU approval on Wednesday.
The company has said it will pursue a dual-track tactic, launching
litigation against the Commission while following the EU merger
process.
The EU competition enforcer can clear the deal with or without
demanding concessions. It can open a four-month investigation if it
has serious concerns.
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It has said the combined entity could restrict access to, or
increase prices of, next-generation sequencers and reagents to the
detriment of Grail rivals in genomic cancer tests.
Illumina announced the deal to buy out investors including
Amazon.com Inc founder Jeff Bezos last September. It spun off Grail
as a separate business four years ago but remained the company's
largest shareholder.
(Reporting by Foo Yun Chee; editing by Jason Neely)
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