Business & FinanceDealsHealth

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

13 July 2021, 2:11 pm 1 minute

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 Amazon.com 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

The offices of gene sequencing company Illumina Inc are shown in San Diego, California January 11, 2016. Illumina is going after the next big advance in cancer detection, working to develop a universal blood test to identify early-stage cancers in people with no symptoms of the disease. On Sunday, San Diego-based Illumina said it would form a new company, called Grail, with more than $100 million in Series A financing. Illumina will be the majority owner. Key investors include technology giants Bill Gates, founder of Microsoft , and Jeff Bezos, founder of Amazon.com, as well as backing from ARCH Venture Partners and Sutter Hill Ventures. REUTERS/Mike Blake

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