ARTICLE | Politics, Policy & Law
Illumina’s Pyrrhic victory in European case over Grail acquisition
Illumina share price has fallen 55% since Grail deal announced
September 4, 2024 10:12 PM UTC
Illumina’s legal win in Europe is cold comfort given its attempt to acquire early cancer detection company Grail had already fallen apart in a lengthy battle that was costly for both companies.
On Tuesday, the European Court of Justice granted Illumina Inc. (NASDAQ:ILMN) a victory by ruling that the European Commission should not have intervened in the transaction to acquire then-private Grail Inc. The ruling may affect how the EC applies its merger regulation in the future, but it does little for Illumina and Grail. ...