Business & FinanceDealsHealth

Reuters reveals Illumina, Grail deal faces full-scale EU antitrust probe; market reacts

Reuters exclusively reported that U.S. life sciences company Illumina Inc’s proposed buy of cancer test maker Grail Inc faces a lengthy EU antitrust investigation if it does not offer hefty concessions this week. Illumina announced the $8 billion cash-and-stock deal for Grail last September, under which it will buy out investors, including Inc founder Jeff Bezos, to regain control of a company it spun out five years ago.

Market Impact

Illumina shares trimmed gains and fell 1% after the Reuters report was published. The stock was down 4.7% the following day.

Article Tags
Topics of Interest: Business & FinanceDealsHealth
Type: Reuters Best
Sectors: Business & FinanceEquitiesPharmaceuticals & Healthcare
Regions: EuropeNorth America
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Major Global Story
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