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Activist Investor Calls For Sanity As FTC Rejects Grail-Illumina Deal

 
• By Barnaby Pickering

Illumina faces a difficult decision now that the US FTC has formally rejected its attempt to re-acquire Grail, the sequencing company it originally sold in 2016. The FTC and European regulators say the merger would stifle competition but the company plans to appeal the ruling.

FTC building statue
Federal Trade Commission Headquarters in Washington, DC • Source: Shutterstock

The US Federal Trade Commission officially instructed Illumina to divest Grail, claiming that the merger may stifle competition and patient access in the cancer diagnostics market, but the company has not given up on the deal yet. 

The merger deal was first announced in September 2020 and, despite immediate opposition from regulators, Illumina declared that the deal had completed with a value of approximately $8bn in August...

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