Illumina to divest Grail, two years after $8B deal was stymied by antitrust issues
Illumina will divest its cancer diagnostic subsidiary Grail, it announced Sunday, ending a painful years-long saga in which the prized acquisition was held up by antitrust regulators.
The move follows a mixed decision from the U.S. Fifth Circuit Court of Appeals on the Federal Trade Commission’s antitrust case against the deal. Illumina said that rather than continue the legal fight, which has been an ongoing distraction for the company, it would sell Grail or spin it out into an independent by the second quarter of 2024.
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