SAN DIEGO (dpa-AFX) - Illumina Inc. (ILMN) said that it received a favorable decision from the Administrative Law Judge presiding over the Federal Trade Commission's or FTC challenge of Illumina's proposed $7.1 billion acquisition of cancer detection test maker Grail.
In the decision, the Judge ruled for Illumina and rejected the FTC's position that the deal would adversely affect competition in a putative market for multi-cancer early detection tests.
Grail was founded by Illumina and was later spun off as a standalone company in January 2017, powered by Illumina's NGS technology. It was in September 2020 that Illumina agreed to buy GRAIL in a cash and stock transaction then valued at about $8 billion.
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