EU antitrust regulators have temporarily paused their investigation into US life sciences company Illumina bid for $8 billion cash-and-stock takeover of Grail while waiting for the companies to provide details, reported Reuters.
This is the second time that the European Commission has halted its scrutiny. The previous deadline for its decision was March 25, set after Illumina provided remedies in a bid to address its concerns about the deal.
Related: EU Antitrust Regulators Extend Illumina, Grail Deadline To March 4
Announced in September 2020, the deal would give Illumina access to Grail’s flagship Galleri blood test used to diagnose cancers at early stages when the disease is easier to treat.
The EU competition enforcer stopped the clock on the deal on Thursday, according to a filing on its website. The EU competition watchdog has previously cautioned that the acquisition could curb innovation and competition.
Illumina however has rejected such concerns, saying that Menlo Park, California-based Grail has no presence in Europe and has no plans to enter the region for the foreseeable future.
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