Salem Radio Network News Sunday, August 1, 2021

Business

Exclusive: EU regulators set to investigate Illumina, Grail deal – sources

BRUSSELS (Reuters) – EU antitrust regulators are set to open a full-scale investigation into Illumina Inc’s proposed purchase of cancer test maker Grail Inc if it does not offer hefty concessions this week, people familiar with the matter said on Tuesday.

Last month, the European Commission opened a preliminary review into the deal under which Illumina will buy out investors including Amazon.com Inc founder Jeff Bezos.

The EU competition enforcer’s review ends on July 22. According to EU merger rules, Illumina has until July 15 to offer concessions to address possible competition concerns or risk a five-month regulatory investigation.

(Reporting by Foo Yun Chee; Editing by Chizu Nomiyama)

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