Biotech giant Illumina will unwind takeover of cancer-screening company Grail
SAN DIEGO, Calif. (AP) — Biotech giant Illumina says it will undo its $7.1 billion purchase of the cancer-screening company Grail. The company lost legal battles with antitrust enforcers in the U.S. and Europe. San Diego-based Illumina says it made its decision to divest after a U.S. appeals court ruled Friday that the merger could violate antitrust laws. The European Union in October ordered the deal to unwind because it closed in 2021 without approval from regulators in the 27-nation bloc. Illumina says it will complete the divestment next year.
