Illumina in talks with EU to divest GRAIL - Reuters
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Illumina (NASDAQ:ILMN) is in talks with European Union antitrust regulators to divest GRAIL ahead of an expected EU veto next week on the $7B-plus tie-up, Reuters reported on Monday.
EU regulators have opposed the deal over concerns the acquisition could give Illumina (ILMN) an outsized ability to halt competitors from developing their own cancer screening tests.
Illumina (ILMN) has offered royalty-free global licenses for some patents to rivals and a three-year patent truce with China's BGI in Europe in an effort to address EU antitrust worries, according to the Reuters report.
Illumina (ILMN) won the backing of a U.S. administrative judge last week who rejected a lawsuit by the Federal Trade Commission against the deal; the FTC said it will appeal the ruling.