US life sciences company Illumina’s proposed purchase of cancer test maker Grail Inc faces a lengthy EU antitrust investigation if it does not offer hefty concessions this week, people familiar with the matter said on Tuesday, July 13.
Illumina announced the US$8 billion cash-and-stock deal for cancer screening startup Grail last September under which it will buy out investors, including Amazon founder Jeff Bezos, to regain control of a company it spun out five years ago.
Last month, the European Commission opened a preliminary review into the deal, a decision Illumina is challenging in court because the deal does not meet the EU revenue criteria. It eventually decided to seek EU approval for the deal while waiting for the court ruling.
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