Illumina Faces Mounting Pressure from Regulators Over $8B Grail Acquisition
Portfolio Pulse from Vandana Singh
Illumina Inc (NASDAQ:ILMN) is facing increasing pressure from EU regulators to divest its acquisition of cancer test developer Grail. The acquisition has also caused discontent among Illumina's shareholders, with activist investor Carl Icahn criticizing the deal. The EU had previously fined Illumina €432 million for defying regulatory authority. The US Federal Trade Commission has also demanded the sale of Grail due to concerns about its impact on cancer detection efforts.
October 09, 2023 | 1:24 pm
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Illumina's acquisition of Grail is under scrutiny from EU regulators and has been criticized by shareholders. This could potentially lead to a divestment of Grail.
The pressure from EU regulators and discontent among shareholders over the acquisition of Grail could negatively impact Illumina's stock in the short term. The potential divestment of Grail could also lead to financial losses for the company.
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