FTC calls out Illumina as 'monopolist,' moves to block $1.2B acquisition of PacBio
When sequencing giant Illumina revealed that it’s acquiring smaller rival Pacific Biosciences for $1.2 billion last year, CEO Francis deSouza said the combination of their own short-read technology and the smaller rival’s long-read approach “will give consumers a more perfect view of the genome.”
Perhaps too perfect, the Federal Trade Commission suggests, for a single company to hawk.
The FTC’s five commissioners voted unanimously to challenge Illumina’s proposed takeover, setting an administrative trial for August 18, 2020, while moving to seek a temporary restraining order and preliminary injunction in federal court.
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