Illumina VS EU
2023.01.10 09:01
Illumina VS EU
By Ray Johnson
Budrigannews.com – American company Illumina (NASDAQ:) on Tuesday, Grail Biotech stepped up its fight against EU regulators that stopped a merger deal last year by challenging an antitrust order to keep the biotech company separate.
In response to its veto, the competition authority of the European Union (EU) renewed an interim measure in October of last year that required Illumina to maintain Grail as a separate entity. This was done so that the company could complete a takeover without having to wait for the EU to approve the deal.
In a statement, Illumina stated, “Today, we appealed the European Commission’s interim measures order to hold separate Illumina and Grail.”
It stated, “We disagree that the Commission has jurisdiction to review the merger, and the Commission has exceeded its authority with the premise of the interim measures themselves and with a number of its provisions.”
In an email comment, the EU executive stated that it would argue its case in court.
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Three appeals against the EU enforcer’s ruling that Illumina jumped the gun by closing the deal without securing approval, the EU’s subsequent veto, and the EU’s decision to examine the case are pending in the top European courts in Luxembourg.
