Illumina wins battle against US regulators trying to block $8bn Grail deal
An administrative law judge has ruled in favour of biotech Illumina’s $8bn acquisition of cancer screening start-up Grail, dealing a blow to the US Federal Trade Commission’s attempts to unpick the transaction.
Illumina, a gene sequencing company, said in a statement that it had “received a favourable decision” from the judge presiding over the case, who had “rejected” the agency’s argument that the deal would hurt competition in the nascent market for early cancer detection tests.
“As we’ve stated from the outset, this transaction is procompetitive, will advance innovation, lower healthcare costs and save lives. We are pleased that, after considering the evidence, the [judge] has reached the same conclusion,” said Charles Dadswell, general counsel of Illumina.
That would set the stage for a battle in federal court, where judges almost never block companies pursuing so-called vertical mergers.
This story originally appeared on: Financial Times - Author:Javier Espinoza
