Home/Markets/‘Illumina to Divest Cancer Blood Test Maker Grail Following Legal Battle\n\nSan Diego-based gene-sequencing company Illumina has announced its decision to divest itself of cancer blood test maker Grail, following its recent loss in a legal battle against U.S. Antitrust regulators. The company plans to pursue the divestiture through a third-party sale or capital markets transaction, with a goal of completing the terms by the middle of next year.\n\nThis decision marks a victory for antitrust authorities in the U.S. And Europe, who have been increasing their scrutiny of corporate combinations. Illumina’s CEO Jacob Thaysen stated, “We are committed to an expeditious divestiture of Grail in a manner that allows its technology to continue benefiting patients.”\n\nGrail, based in Menlo Park, California, is a health company developing blood tests to detect cancer early. Illumina had previously spun off Grail in 2016 but reacquired it in 2021 despite competition concerns. The European Union had ordered the deal to be unwound in October, and Illumina was fined $475 million for closing the deal without regulatory approval.\n\nThe company has already pledged to divest Grail if it was not successful in its legal battles. The divestiture will happen through a third-party sale or capital markets transaction by the end of the second quarter of 2024.\n\nIn a statement, Illumina’s CEO Jacob Thaysen said, “We are committed to an expeditious divestiture of Grail in a manner that allows its technology to continue benefiting patients.” Thaysen began leading the company in September after months of tumult over the legal challenges.\n\nThe decision to divest Grail comes after a U.S. Appeals court ruled on Friday that the merger could violate antitrust laws. The court also stated that the Federal Trade Commission (FTC) had substantial evidence to show that the deal would lessen competition. This ruling opens the door for the FTC to pursue a new legal strategy to block the deal.\n\nThe divestiture will be executed through a third-party sale or capital markets transaction, with the terms to be finalized by the second quarter of 2024. Illumina is a major supplier of next-generation sequencing systems for genetic and genomic analysis, while Grail is a health company developing blood tests to detect cancer early.\n\n Illumina’s decision to divest Grail following its legal battle with antitrust regulators marks a significant development in the healthcare industry. The company’s commitment to an expeditious divestiture shows its dedication to benefiting patients and complying with regulatory requirements.’

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‘Illumina to Divest Cancer Blood Test Maker Grail Following Legal Battle\n\nSan Diego-based gene-sequencing company Illumina has announced its decision to divest itself of cancer blood test maker Grail, following its recent loss in a legal battle against U.S. Antitrust regulators. The company plans to pursue the divestiture through a third-party sale or capital markets transaction, with a goal of completing the terms by the middle of next year.\n\nThis decision marks a victory for antitrust authorities in the U.S. And Europe, who have been increasing their scrutiny of corporate combinations. Illumina’s CEO Jacob Thaysen stated, “We are committed to an expeditious divestiture of Grail in a manner that allows its technology to continue benefiting patients.”\n\nGrail, based in Menlo Park, California, is a health company developing blood tests to detect cancer early. Illumina had previously spun off Grail in 2016 but reacquired it in 2021 despite competition concerns. The European Union had ordered the deal to be unwound in October, and Illumina was fined $475 million for closing the deal without regulatory approval.\n\nThe company has already pledged to divest Grail if it was not successful in its legal battles. The divestiture will happen through a third-party sale or capital markets transaction by the end of the second quarter of 2024.\n\nIn a statement, Illumina’s CEO Jacob Thaysen said, “We are committed to an expeditious divestiture of Grail in a manner that allows its technology to continue benefiting patients.” Thaysen began leading the company in September after months of tumult over the legal challenges.\n\nThe decision to divest Grail comes after a U.S. Appeals court ruled on Friday that the merger could violate antitrust laws. The court also stated that the Federal Trade Commission (FTC) had substantial evidence to show that the deal would lessen competition. This ruling opens the door for the FTC to pursue a new legal strategy to block the deal.\n\nThe divestiture will be executed through a third-party sale or capital markets transaction, with the terms to be finalized by the second quarter of 2024. Illumina is a major supplier of next-generation sequencing systems for genetic and genomic analysis, while Grail is a health company developing blood tests to detect cancer early.\n\n Illumina’s decision to divest Grail following its legal battle with antitrust regulators marks a significant development in the healthcare industry. The company’s commitment to an expeditious divestiture shows its dedication to benefiting patients and complying with regulatory requirements.’

‘Illumina to Divest Cancer Blood Test Maker Grail Following Legal Battle\n\nSan Diego-based gene-sequencing company Illumina has announced its decision to divest itself of cancer blood test maker Grail, following its recent loss in a legal battle against U.S. Antitrust regulators. The company plans to pursue the divestiture through a third-party sale or capital markets transaction, with a goal of completing the terms by the middle of next year.\n\nThis decision marks a victory for antitrust authorities in the U.S. And Europe, who have been increasing their scrutiny of corporate combinations. Illumina’s CEO Jacob Thaysen stated, “We are committed to an expeditious divestiture of Grail in a manner that allows its technology to continue benefiting patients.”\n\nGrail, based in Menlo Park, California, is a health company developing blood tests to detect cancer early. Illumina had previously spun off Grail in 2016 but reacquired it in 2021 despite competition concerns. The European Union had ordered the deal to be unwound in October, and Illumina was fined $475 million for closing the deal without regulatory approval.\n\nThe company has already pledged to divest Grail if it was not successful in its legal battles. The divestiture will happen through a third-party sale or capital markets transaction by the end of the second quarter of 2024.\n\nIn a statement, Illumina’s CEO Jacob Thaysen said, “We are committed to an expeditious divestiture of Grail in a manner that allows its technology to continue benefiting patients.” Thaysen began leading the company in September after months of tumult over the legal challenges.\n\nThe decision to divest Grail comes after a U.S. Appeals court ruled on Friday that the merger could violate antitrust laws. The court also stated that the Federal Trade Commission (FTC) had substantial evidence to show that the deal would lessen competition. This ruling opens the door for the FTC to pursue a new legal strategy to block the deal.\n\nThe divestiture will be executed through a third-party sale or capital markets transaction, with the terms to be finalized by the second quarter of 2024. Illumina is a major supplier of next-generation sequencing systems for genetic and genomic analysis, while Grail is a health company developing blood tests to detect cancer early.\n\n Illumina’s decision to divest Grail following its legal battle with antitrust regulators marks a significant development in the healthcare industry. The company’s commitment to an expeditious divestiture shows its dedication to benefiting patients and complying with regulatory requirements.’$ILMN2023-12-20T06:23:21.307Z

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