Europe To Layout Objections to Illumina-Grail Deal: Bloomberg

Illumina Inc ILMN says the European Union will issue a list of objections tomorrow over the Company's $8B takeover of GRAIL, Bloomberg reports.
Related Link: EC Adopts Interim Measure, Tells Grail To Work On Alternatives To Illumina Deal.
The EU is weighing whether the deal would prevent other companies from bringing tests to market, will likely issue a so-called statement of objections.
Grail has no business in Europe, and a deal veto would delay the rollout of cancer tests in the region by many years, Illumina said in a briefing paper.
The EU's arguments that the deal may be anticompetitive are "highly speculative and unfounded by any evidence. This is not a 'killer acquisition' as Illumina and Grail are not competitors," said Illumina.
Illumina risks a potential $400 million fine.
Related: Illumina Clocks 40% Growth In Q3; Earnings Beat Expectations.
Price Action: ILMN shares are down 0.09% at $378.61 during the market session on the last check Tuesday.

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