Illumina Inc. said it expects European Union regulators to issue formal objections to its $8 billion acquisition of cancer-test provider Grail on Wednesday.
The EU, which is weighing whether the deal would prevent other companies from bringing innovative tests to market, will likely issue a so-called statement of objections, San Diego-based Illumina said. Though such a statement raises a red flag for a potential veto, it also gives companies an opportunity to challenge the EU’s legal case or offer concessions.
