Business & FinanceDealsHealth
13 July 2021, 2:11 pm. 1 minute
Reuters exclusively reported that U.S. life sciences company Illumina Inc’s proposed buy of cancer test maker Grail Inc faces a lengthy EU antitrust investigation if it does not offer hefty concessions this week. Illumina announced the $8 billion cash-and-stock deal for Grail last September, under which it will buy out investors, including Amazon.com Inc founder Jeff Bezos, to regain control of a company it spun out five years ago.
Illumina shares trimmed gains and fell 1% after the Reuters report was published. The stock was down 4.7% the following day.
Topics of Interest: Business & FinanceDealsHealth
Type: Reuters Best
Sectors: Business & FinanceEquitiesPharmaceuticals & Healthcare
Regions: EuropeNorth America
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Major Global Story