In an unusual step, the European Commission plans to intervene in the recent merger between Illumina (ILMN) and Grail because regulators were unable to finish reviewing the deal before it was completed, raising concerns that competition in the market for DNA sequencing tests will now be damaged.
The move comes one month after Illumina stunned regulators by announcing it had closed its $8 billion acquisition, even though the EC had opened an investigation only weeks earlier at the prompting of France and five other European Union member states. In the U.S., the Federal Trade Commission had already filed a complaint last March to block the deal.
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