Reporting by Foo Yun Chee in Brussels
Editing by Matthew Lewis
[1/2]A sign at the front entrance to the global headquarters of Illumina is pictured in San Diego, California, U.S., November 28, 2022. REUTERS/Mike Blake/File Photo Acquire Licensing Rights
BRUSSELS, Oct 10 (Reuters) – U.S. genetic testing company Illumina (ILMN.O) will on Thursday get an order from EU antitrust regulators to sell cancer test maker Grail (GRAL.O), a year after the $7.1 billion deal was blocked, a person with direct knowledge of the matter said on Tuesday.
The European Commission vetoed the deal, concerned that Illumina would have an incentive to cut off Grail’s rivals from accessing its technology to develop blood-based early cancer detection tests to compete with Grail.
The EC did not immediately respond to a request for comment.
The EU competition enforcer slapped a record 432 million-euro ($458 million) fine on Illumina in July for closing the deal before securing the regulatory green light.
Illumina has challenged the EU veto of the deal, its decision to examine the deal despite not meeting the EU merger criteria and the EU order to keep Grail separate so that it can unwind the deal.
The U.S. Federal Trade Commission (FTC) has also ordered Illumina to divest Grail, which Illumina has appealed.
($1 = 0.9430 euro)
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