Exclusive: EU antitrust regulators likely to block Illumina, Grail deal – sources

07/27/2022

Less than a minute

2022.07.27 18:26

Exclusive: EU antitrust regulators likely to block Illumina, Grail deal - sources
FILE PHOTO: The offices of gene sequencing company Illumina Inc are shown in San Diego, California January 11, 2016. REUTERS/Mike Blake

BRUSSELS (Reuters) – EU antitrust regulators are expected to veto U.S. life sciences firm Illumina (NASDAQ:ILMN)’s acquisition of biotechnology company Grail, people familiar with the matter said on Wednesday.

There are doubts whether concessions offered by Illumina last week to address the European Commission’s concerns about the $8 billion cash-and-stock deal will boost competition, the people said.

The concessions include royalty-free global licences for some of its patents and a three-year patent truce with Chinese rival BGI in Europe.

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07/27/2022

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