- Illumina Inc (NASDAQ: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.
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
