Illumina Files Action For Annulment Of EC's Decision Asserting Jurisdiction To Review GRAIL Deal

(RTTNews) - Illumina Inc. (ILMN) said that it has filed an action in the General Court of the European Union asking for annulment of the European Commission's decision asserting jurisdiction to review Illumina's acquisition of GRAIL.

The Commission asserted jurisdiction to review the acquisition under the EU Merger Regulation on April 19, 2021, seven months after the deal was announced.

"The European Commission's unprecedented and untimely decision to review this procompetitive acquisition without proper engagement with the parties leaves businesses uncertain as to how the EU Merger Regulation will be applied," said Charles Dadswell, Senior Vice President and General Counsel for Illumina.

Illumina said the Court process is ongoing. The company will continue to work with the European Commission's Directorate-General for Competition to bring the review to a conclusion as quickly as possible.

In March, the U.S. Federal Trade Commission challenged Illumina Inc.'s proposed $7.1 billion acquisition of cancer detection test maker Grail, alleging that a merger would harm competition for life-saving Multi-Cancer Early Detection or MCED tests in the United States.