What antitrust challenge? Illumina completes $8B Grail buyout while FTC, EU probes remain ongoing
In defiance of FTC and EU scrutiny, Illumina said Wednesday it has completed its multibillion dollar acquisition of Grail, setting off what’s likely to be a contentious brawl ahead of the US regulator’s trial expected to begin next week.
The finalization of the $8 billion buyout comes as the FTC sued to block the move in March and the European Commission continues its ongoing regulatory review. While there is no legal impediment preventing the deal closing in the US, Illumina said, the company will hold Grail as a separate entity during the EU audit to prevent European regulators from running out the clock to kill the deal.
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