Big Law
Illumina Criticizes Scrutiny Over Its Deal With Grail
U.S. life sciences company Illumina on Thursday criticised EU antitrust regulators for scrutinising its $8 billion cash-and-stock takeover of Grail even though the cancer detection test maker has no activities in Europe.
The Commission’s decision to scrutinise the deal via a rarely used power marked a troubling change in its policy, Illumina’s lawyer told a hearing at Europe’s second-top court, the General Court.
“If the Commission is going to radically change policy, then businesses should know. Think about business certainty,” Daniel Beard said.
