Illumina's $7 billion acquisition of cancer-test provider Grail has faced legal challenges, including antitrust violations. The US appeals court found the acquisition violated antitrust laws, leading Illumina to announce the divestment of Grail. The divestment is expected to be completed by the second quarter of 2024. Illumina's acquisition and subsequent divestment of Grail have been described as a financial disaster.
Illumina says it will divest Grail, starting a closing chapter for a disastrous deal. Read Matt's Take: https://t.co/NyRTa76v76 https://t.co/SQXplQ3r2H
Illumina to divest cancer test maker Grail after antitrust battles https://t.co/IQTzjSTWSX
LISTEN NOW: Lots of news on the M&A front as Nippon Steel agrees to acquire U.S. Steel, Adobe and Figma scrap their $20 billion deal and Illumina decides to divest cancer test maker Grail. Listen and follow the @SquawkStreet podcast here: https://t.co/FZ7yRasmzi https://t.co/KeRrQEFE36
#9 is true today: No holy Grail for Illumina. “Given regulatory pushback, by the end of 2023, Illumina will have disposed of Grail. More importantly, the acquisition and divestment will have been a financial disaster.” https://t.co/7bKHNFLLhO
Two days after Illumina lost its case in a federal appeals court, the leading producer of gene-sequencing machines announced that it would sell Grail, a cancer test developer that it purchased for $7.1 billion in 2021. https://t.co/wjpI1qQhSz
Pharmalot.. Pharmalittle.. Good Morning: Illumina will divest Grail after court finds deal was anti-competitive; FDA found problems at Moderna facility & More news.. https://t.co/Tlkg9XE6p2 #pharma #biotech #FDA #hemophilia #weightloss #obesity #raredisease $NVO $ILMN $GPCR $CKPT
Illumina plans to divest Grail, which it bought over the objection of regulators in the U.S. and Europe in August 2021. https://t.co/ABT54y7nNs
Illumina to Sell Grail. It’s Giving Up on its Biotech Antitrust Battle. https://t.co/5r2qB88OBb
$ILMN-Grail...worst timing at EACH AND EVERY turn: 2016: Illumina spins out Grail at modest valuation 2020: ILMN buys Grail back at peak genomics for $7.1B early 2021: antitrust regulators want to stop deal at time genomics bubble starts to deflate, giving ILMN chance to get out…
Illumina to divest Grail Bio. But for how much? https://t.co/4gpkGlVU02
Illumina to Divest Itself of Cancer-Test Maker Grail $ILMN https://t.co/CudlMztD3C
Illumina said it will divest itself of cancer blood test maker Grail. The move follows the gene-sequencing company’s loss in its legal battle with FTC. https://t.co/Ok0kpM1ikz https://t.co/Ok0kpM1ikz
Illumina, the leading maker of DNA sequencing machines, said it would divest Grail, developer of the Galleri multi-cancer screening test. https://t.co/9KZ5iEntZQ
Illumina $ILMN says it will divest Grail, starting a closing chapter for a disastrous deal https://t.co/0zEU1QLyZo via @matthewherper
Illumina to divest cancer test maker Grail https://t.co/K0hGJZ0rrU https://t.co/KGkytGkLJu
$ILMN Illumina to divest Grail Bio by the second quarter of 2024.
Illumina said it will sell Grail after a US appeals court found that its $7 billion acquisition of the cancer detection startup violated antitrust laws https://t.co/kdNwcewgNF
Illumina to divest cancer test maker Grail https://t.co/brELnbh0cD https://t.co/FHSF4apEiy
A court said the U.S. government was right to challenge Illumina’s purchase of cancer-test developer Grail—but still sent the case back to the FTC https://t.co/Rq77tZ180E https://t.co/Rq77tZ180E
A US appeals court found that Illumina’s $7 billion acquisition of cancer detection startup Grail violated antitrust laws, but sent the case back to the FTC for a fresh review https://t.co/2JnfZyqLXF
The unsanctioned acquisition of former spin-off Grail, which is developing a cancer-detection platform using blood, has cost Illumina $ILMN billions in value and millions in fines – and the bleeding is expected to continue. https://t.co/kBIwMBgK1N
Illumina's struggle to save its $7 billion acquisition of cancer-test provider Grail enters the final stages in a court challenge to the European Union’s power to probe deals that once flew under the radar https://t.co/xrgFi1s5t1