Illumina, Grail breakup order in EU will be 'swift,' Guersent says
By Khushita Vasant ( September 16, 2022, 17:01 GMT | Insight) -- Last week’s prohibition of Illumina’s acquisition of Grail will “swiftly” be followed by a decision ordering the companies to unwind the transaction, EU competition head Olivier Guersent told MLex. “The sooner the better,” he said. Last week’s prohibition of Illumina’s acquisition of Grail will “swiftly” be followed by a decision ordering the companies to unwind the transaction, the head of the European Commission’s competition department told MLex.Olivier Guersent said that there is a process for ordering the break-up of Illumina and Grail that involves a formal commission decision. Guersent also noted that the commission has an ongoing gun-jumping investigation against Illumina (see here).“While there is no prescribed timeline, taking into account the recent decision that this merger is incompatible with the internal market, we will propose to proceed with the decision ordering the break-up of the two companies swiftly,” Guersent said.“The sooner the better,” he said. Please e-mail editors@mlex.com to contact the editorial staff regarding this story, or to submit the names of lawyers and advisers....
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