By Will Feuer
Shares of Illumina slid more than 4% after the gene-sequencing company disclosed that the Securities and Exchange Commission is investigating the company’s $7 billion takeover of cancer-test developer Grail.
The company said in a securities filing late Thursday that SEC staff in July requested documents and communications related to Illumina’s buyout of Grail. The regulators also requested certain statements and disclosures concerning Grail, its products and the acquisition, as well as the conduct and compensation of certain members of Illumina and Grail management, among other things.
Illumina said it is cooperating with the investigation.
The stock fell 4.3% to $177.19 in midday trading. So far this year, shares have fallen more than 12%.
Write to Will Feuer at [email protected]
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