Il­lu­mi­na takes a step to­ward spin­ning off Grail, though keeps op­tion open for sale

Il­lu­mi­na prefers to spin off Grail in­to an in­de­pen­dent busi­ness rather than sell the can­cer di­ag­nos­tics com­pa­ny, ac­cord­ing to a fi­nan­cial doc­u­ment re­leased Mon­day that de­scribes the Il­lu­mi­na board’s de­lib­er­a­tions over the de­ci­sion.

The San Diego com­pa­ny, which ac­quired Grail for $8 bil­lion in 2021 over the ob­jec­tions of an­titrust au­thor­i­ties, said in the fil­ing that its board con­sid­ered var­i­ous di­vest­ment op­tions.

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