07:07 AM EDT, 04/12/2024 (MT Newswires) -- Illumina ( ILMN ) secured the European Commission's approval for its plan to divest cancer test maker Grail as part of an earlier directive that requires Illumina ( ILMN ) to unwind its completed acquisition of Grail, according to a Friday statement from the European Commission.

The European Commission said the companies "unlawfully completed" their merger and were subsequently fined for the violation. The Commission also issued restorative measures for Illumina ( ILMN ) to divest Grail and restore the sector's competitive situation prevailing before the completion of the merger.

Under the divestment plan, Illumina ( ILMN ) can select the method to divest Grail such as a trade sale or a capital markets transaction, the Commission added.

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