Illumina Fights EU to Bring $7 Billion Deal Back From Brink
- EU top court weighs in on merger watchdog’s new review powers
- Final ruling is test case for EU’s broadened merger reviews
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Illumina Inc.’s struggle to save its $7 billion acquisition of cancer-test provider Grail Inc. entered the final stages in a court challenge to the European Union’s recent eagerness to probe deals that once flew under the radar.
At a hearing at the EU’s Court of Justice, lawyers for Illumina and Grail attacked the European Commission for “orchestrating a plan to assume jurisdiction” over a combination that lacked any discernible footprint in the 27-nation EU.