FTC orders Illumina to divest $7.1 billion acquisition of cancer test developer Grail

FTC orders Illumina to divest $7.1 billion acquisition of cancer test developer Grail

Submitted by admin on April 3, 2023 - 11:36am
Source: 
CNBC
News Tags: 
FTC
Illumina
Grail
competition
M&A
diagnostics
Headline: 
FTC orders Illumina to divest $7.1 billion acquisition of cancer test developer Grail
snippet: 
  • The Federal Trade Commission ordered Illumina to divest its controversial acquisition of cancer test developer Grail.
  • The commission said the deal would stifle competition and innovation in the U.S. cancer market.
  • The decision reverses an administrative judge’s September ruling that dismissed the FTC’s initial challenge of the $7.1 billion deal.

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