Illumina (ILMN) Acquires GRAIL
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Illumina (ILMN) Slips After Deciding to Close Grail Takeover Without Clearance from FTC or EU, Prompting a Downgrade
August 19, 2021 8:51 AM EDTShares of Illumina (NASDAQ: ILMN) are down over 4% in pre-open Thursday after the company decided to close the takeover of its $8 billion purchase of Grail despite it still awaits a final response from the U.S. Federal Trade Commission (FTC) and the European Union.
The FTC sued the DNA sequencing titan by saying that the takeover would likely reduce innovation in this critical area of healthcare, diminish the quality of [these] tests, and make them more expensive. On the other hand, EU antitrust regulators opened an investigation in July.
However, ILMN went for a... More
Illumina (ILMN) Shares Poised for a Drop Following GRAIL Acquisition - Bloomberg
August 19, 2021 8:45 AM EDTBloomberg reports that Illumina (NASDAQ: ILMN) shares are poised for a drop Thursday after the DNA sequencing giant said it would close its deal for the cancer testing startup Grail before European regulators had finished their review.
Evercore ISIs analyst Vijay Kumar notes that... More
