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Illumina’s $7 Billion Grail Deal Vetoed by European Union

  • EU says proposed remedies failed to address antitrust concerns
  • Deal could have reduced competition in market for cancer tests
Updated on

Illumina Inc.’s $7 billion takeover of cancer-test provider Grail Inc. was vetoed by the European Union amid concerns that the deal would have hampered competition.

The European Commission, the bloc’s merger watchdog, said in a statement the deal would have “stifled innovation and reduced choice” in the emerging market for blood-based early cancer detection tests. Illumina, whose proposed remedies were deemed insufficient, said it plans to appeal the veto.