Illumina to appeal EU decision to block GRAIL acquisition
JasonDoiy/iStock Unreleased via Getty Images


Illumina, Inc. (NASDAQ:ILMN) said Tuesday that the company is reviewing the European Commission's (EC) decision prohibiting the acquisition of cancer test developer GRAIL, and it plans to appeal the order.
"We are disappointed with the European Commission's decision prohibiting us from acquiring GRAIL back to Illumina," ILMN's General Counsel Charles Dadswell noted.

On Monday, Reuters reported that the company was in talks with EU antitrust officials on plans to divest GRAIL ahead of a possible veto on the deal next week.
With today's announcement, ILMN said that expecting a divestment order from the EC in the coming months, the company will begin evaluating strategic alternatives for GRAIL if it cannot get a stay order on spinoff pending the appeal. 

The EC decision comes after an administrative law judge of the Federal Trade Commission issued a ruling in favor of Illumina (ILMN), handing a setback to U.S. regulator's moves to block the $7.1B deal on antitrust issues.