Illumina wins Grail battle in blow to EU merger probe
Business Standard|September 04, 2024
Illumina's blocked $7 billion bid for cancer-detection provider Grail should never have been probed by the European Union, according to a top court ruling that strikes at the heart of the EU's attempt to vet more global deals.

The European Commission overstepped its authority when it used the US takeover as a test for new powers to examine mergers that would previously have flown under its radar, judges at the EU's Court of Justice in Luxembourg said on Tuesday.

Illumina said in a statement that the EU court confirmed that the commission "exceeded its authority by asserting jurisdiction over this merger." The company also said it would no longer have to pay a €432 million ($477 million) fine for closing the deal before regulators had scrutinised it.

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Business Standard

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