Illumina facing huge fine from EU over closing GRAIL deal without antitrust approval
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Illumina (NASDAQ:ILMN) may have to pay a fine of 10% of its annual turnover to the EU as a penalty for closing its 2021 acquisition of GRAIL without receiving antitrust clearance, Reuters reported.
In 2022, Illumina (ILMN) set aside $453M in case it was fined.
The genetic and genomic analysis company told the news service it would appeal any fine if levied.
In September 2022, Illumina (ILMN) won an antitrust lawsuit filed by the Federal Trade Commission over the $7.1B deal.