{"id":35185,"date":"2023-07-13T13:10:43","date_gmt":"2023-07-13T17:10:43","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/eu-fines-illumina-e432m-for-completing-grail-acquisition-without-approval\/"},"modified":"2023-07-13T13:10:45","modified_gmt":"2023-07-13T17:10:45","slug":"eu-fines-illumina-e432m-for-completing-grail-acquisition-without-approval","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=35185","title":{"rendered":"EU fines Illumina \u20ac432M for completing Grail acquisition without approval"},"content":{"rendered":"
\n
\n

\u00a9 Reuters EU fines Illumina (ILMN) \u20ac432M for completing Grail acquisition without approval<\/span>
\n<\/i>\n<\/div>\n

The European Commission has fined Illumina (NASDAQ:) approximately \u20ac432 million ($476.2M) for implementing the proposed merger with Grail before receiving the approval. This is a record fine and Illumina spokesperson told CNBC the company plans to appeal the fine.<\/p>\n

EU opened an in-depth investigation into Illumina’s $7.1 billion acquisition of Grail, before eventually blocking the transaction \u201cover concerns that it would have significant anticompetitive effects, stifling innovation and reducing choice in the emerging market for blood-based early cancer detection tests.\u201d<\/p>\n

While the review was still in process, Illumina publicly announced that it had completed its acquisition of Grail. Such actions were in breach of EU merger control rules, the Commission said in a ruling. The fine amounts to 10% of Illumina\u2019s global turnover, the maximum allowed under EU merger rules.<\/p>\n

\u201cIn today’s decision, the Commission confirms its preliminary view that Illumina and GRAIL intentionally breached the standstill obligation. The Commission found that by closing the transaction Illumina was able to exercise a decisive influence over GRAIL and it actually exercised it,\u201d it is said in the press release.<\/p>\n

In April, the U.S. Federal Trade Commission (FTC) ordered Illumina to divest its controversial acquisition of Grail.<\/p>\n

\u201cThe Commission found that the acquisition would diminish innovation in the U.S. market for [multi-cancer early detection] tests while increasing prices and decreasing choice and quality of tests,\u201d the FTC said in a press release.<\/p>\n

\u201cThis is extremely concerning given the importance of swiftly developing effective and affordable tools to detect cancer early.\u201d<\/p>\n

Last month, Illumina said it filed an appeal against an FTC order.<\/p>\n

ILMN shares are down 0.7% in premarket Wednesday.<\/p>\n

\u00a0<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters EU fines Illumina (ILMN) \u20ac432M for completing Grail acquisition without approval The European Commission has fined Illumina (NASDAQ:) approximately \u20ac432 million ($476.2M) for implementing the proposed merger with Grail before receiving the approval. This is a record fine and Illumina spokesperson told CNBC the company plans to appeal the fine. EU opened an […]<\/p>\n","protected":false},"author":1,"featured_media":28005,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-35185","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nEU fines Illumina \u20ac432M for completing Grail acquisition without approval | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters EU fines Illumina (ILMN) \u20ac432M for completing Grail acquisition without approval The European Commission has fined Illumina (NASDAQ:)\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=35185\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EU fines Illumina \u20ac432M for completing Grail acquisition without approval | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"\u00a9 Reuters EU fines Illumina (ILMN) \u20ac432M for completing Grail acquisition without approval The European Commission has fined Illumina (NASDAQ:)\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=35185\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-07-13T17:10:43+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-07-13T17:10:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/06\/moved_LYNXMPEJ170PB_L.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"534\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=35185#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=35185\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"EU fines Illumina \u20ac432M for completing Grail acquisition without approval\",\"datePublished\":\"2023-07-13T17:10:43+00:00\",\"dateModified\":\"2023-07-13T17:10:45+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=35185\"},\"wordCount\":296,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=35185#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=35185\",\"url\":\"https:\/\/ifintechworld.com\/?p=35185\",\"name\":\"EU fines Illumina \u20ac432M for completing Grail acquisition without approval | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-07-13T17:10:43+00:00\",\"dateModified\":\"2023-07-13T17:10:45+00:00\",\"description\":\"\u00a9 Reuters EU fines Illumina (ILMN) \u20ac432M for completing Grail acquisition without approval The European Commission has fined Illumina (NASDAQ:)\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=35185#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=35185\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=35185#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"EU fines Illumina \u20ac432M for completing Grail acquisition without approval\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"EU fines Illumina \u20ac432M for completing Grail acquisition without approval | iFintechWorld","description":"\u00a9 Reuters EU fines Illumina (ILMN) \u20ac432M for completing Grail acquisition without approval The European Commission has fined Illumina (NASDAQ:)","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=35185","og_locale":"en_US","og_type":"article","og_title":"EU fines Illumina \u20ac432M for completing Grail acquisition without approval | iFintechWorld","og_description":"\u00a9 Reuters EU fines Illumina (ILMN) \u20ac432M for completing Grail acquisition without approval The European Commission has fined Illumina (NASDAQ:)","og_url":"https:\/\/ifintechworld.com\/?p=35185","og_site_name":"iFintechWorld","article_published_time":"2023-07-13T17:10:43+00:00","article_modified_time":"2023-07-13T17:10:45+00:00","og_image":[{"width":800,"height":534,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/06\/moved_LYNXMPEJ170PB_L.jpg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=35185#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=35185"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"EU fines Illumina \u20ac432M for completing Grail acquisition without approval","datePublished":"2023-07-13T17:10:43+00:00","dateModified":"2023-07-13T17:10:45+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=35185"},"wordCount":296,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=35185#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=35185","url":"https:\/\/ifintechworld.com\/?p=35185","name":"EU fines Illumina \u20ac432M for completing Grail acquisition without approval | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-07-13T17:10:43+00:00","dateModified":"2023-07-13T17:10:45+00:00","description":"\u00a9 Reuters EU fines Illumina (ILMN) \u20ac432M for completing Grail acquisition without approval The European Commission has fined Illumina (NASDAQ:)","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=35185#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=35185"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=35185#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"EU fines Illumina \u20ac432M for completing Grail acquisition without approval"}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/35185","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=35185"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/35185\/revisions"}],"predecessor-version":[{"id":35186,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/35185\/revisions\/35186"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/28005"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=35185"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=35185"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=35185"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}