Illumina to appeal Europe’s blockade of Grail deal as it explores divestiture

Over a year after Illumina said it had completed its $8 billion acquisition of early cancer detection company Grail, the parent company still has a long road to travel to put the deal behind it. The question is how long it will find the fight worth it, and whether it may instead opt to divest Grail.

On Tuesday, the European Commission issued an order prohibiting the acquisition. The decision could force Illumina Inc. (NASDAQ:ILMN) to unwind the deal and face fines that could exceed $450 million. Illumina said it intends to appeal the decision. ...