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EU top court backs Illumina fight against EU probe into Grail deal
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EU top court backs Illumina fight against EU probe into Grail deal
Sep 3, 2024 8:13 AM

BRUSSELS, Sept 3 (Reuters) - Europe's top court on

Tuesday backed U.S. gene sequencing company Illumina's ( ILMN )

fight against EU antitrust regulators' investigation into its

$7.1 billion bid for cancer diagnostic test maker Grail

.

"The Court of Justice sets aside the judgment of the

General Court and annuls the decisions by which the Commission

accepted requests from national competition authorities seeking

the examination of the proposed concentration," the

Luxembourg-based Court of Justice of the European Union (CJEU)

said.

The General Court had in 2022 ruled in favour of the

European Commission.

Illumina ( ILMN ), which founded Grail and spun it off in 2016 only

to re-acquire it in 2021 for $7.1 billion, had fought against

the European Commission's rarely used power called Article 22 to

assess the deal even though it was below the EU merger revenue

threshold.

The cases are Cases C-611/22 P Illumina v Commission and

C-625/22 P Grail v Commission.

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