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2021-08-19

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Illumina closes $7.1 bln deal for cancer test maker Grail amid regulatory hurdles

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Thanks","highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":3,"repostSize":0,"favoriteSize":0,"link":"https://laohu8.com/post/831243931","repostId":2160388755,"repostType":4,"repost":{"id":"2160388755","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1629331557,"share":"https://www.laohu8.com/m/news/2160388755?lang=&edition=full","pubTime":"2021-08-19 08:05","market":"us","language":"en","title":"Illumina closes $7.1 bln deal for cancer test maker Grail amid regulatory hurdles","url":"https://stock-news.laohu8.com/highlight/detail?id=2160388755","media":"Reuters","summary":"Aug 18 (Reuters) - Illumina Inc has completed its $7.1 billion acquisition of cancer detection test ","content":"<p>Aug 18 (Reuters) - <a href=\"https://laohu8.com/S/ILMN\">Illumina</a> Inc has completed its $7.1 billion acquisition of cancer detection test maker Grail Inc, it said on Wednesday amid challenges posed by the U.S. Federal Trade Commission and the European Union antitrust regulators.</p>\n<p>The life sciences company said there is no legal impediment to the closure in the United States and that the move will ensure the deal does not expire before the regulatory processes conclude.</p>\n<p>The U.S. antitrust regulator did not immediately respond to Reuters request for comment.</p>\n<p>The cash-and-stock deal was announced in September last year by Illumina to gain access to Grail's flagship Galleri blood test used to diagnose cancers at early stages when the disease is easier to treat.</p>\n<p>The deal will face a trial on Aug. 24 at the FTC, which had in March filed a complaint seeking to block the deal, arguing that Illumina is the sole provider of the DNA sequencing that Grail uses and could prevent others from entering the market.</p>\n<p>EU antitrust regulators in July opened a full-scale investigation after warning that the deal could curb innovation and competition.</p>\n<p>The company said on Wednesday it would hold Grail as a separate company during the European Commission's ongoing regulatory review.</p>\n<p>\"We will abide by any outcome ultimately reached by the courts,\" Charles Dadswell, general counsel of Illumina, said.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIllumina closes $7.1 bln deal for cancer test maker Grail amid regulatory hurdles\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-08-19 08:05</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Aug 18 (Reuters) - <a href=\"https://laohu8.com/S/ILMN\">Illumina</a> Inc has completed its $7.1 billion acquisition of cancer detection test maker Grail Inc, it said on Wednesday amid challenges posed by the U.S. Federal Trade Commission and the European Union antitrust regulators.</p>\n<p>The life sciences company said there is no legal impediment to the closure in the United States and that the move will ensure the deal does not expire before the regulatory processes conclude.</p>\n<p>The U.S. antitrust regulator did not immediately respond to Reuters request for comment.</p>\n<p>The cash-and-stock deal was announced in September last year by Illumina to gain access to Grail's flagship Galleri blood test used to diagnose cancers at early stages when the disease is easier to treat.</p>\n<p>The deal will face a trial on Aug. 24 at the FTC, which had in March filed a complaint seeking to block the deal, arguing that Illumina is the sole provider of the DNA sequencing that Grail uses and could prevent others from entering the market.</p>\n<p>EU antitrust regulators in July opened a full-scale investigation after warning that the deal could curb innovation and competition.</p>\n<p>The company said on Wednesday it would hold Grail as a separate company during the European Commission's ongoing regulatory review.</p>\n<p>\"We will abide by any outcome ultimately reached by the courts,\" Charles Dadswell, general counsel of Illumina, said.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ILMN":"Illumina"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2160388755","content_text":"Aug 18 (Reuters) - Illumina Inc has completed its $7.1 billion acquisition of cancer detection test maker Grail Inc, it said on Wednesday amid challenges posed by the U.S. Federal Trade Commission and the European Union antitrust regulators.\nThe life sciences company said there is no legal impediment to the closure in the United States and that the move will ensure the deal does not expire before the regulatory processes conclude.\nThe U.S. antitrust regulator did not immediately respond to Reuters request for comment.\nThe cash-and-stock deal was announced in September last year by Illumina to gain access to Grail's flagship Galleri blood test used to diagnose cancers at early stages when the disease is easier to treat.\nThe deal will face a trial on Aug. 24 at the FTC, which had in March filed a complaint seeking to block the deal, arguing that Illumina is the sole provider of the DNA sequencing that Grail uses and could prevent others from entering the market.\nEU antitrust regulators in July opened a full-scale investigation after warning that the deal could curb innovation and competition.\nThe company said on Wednesday it would hold Grail as a separate company during the European Commission's ongoing regulatory review.\n\"We will abide by any outcome ultimately reached by the courts,\" Charles Dadswell, general counsel of Illumina, said.","news_type":1},"isVote":1,"tweetType":1,"viewCount":113,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":24,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/831243931"}