EU court to rule July 13 on Illumina challenge of EU review of Grail -sources -Breaking
By Foo Yun Chee
BRUSSELS, (Reuters) – A European court will determine on July 13 whether Illumina’s (8 billion) cash-and stock takeover of Grail by the U.S.-based life sciences firm Illumina (NASDAQ) should be examined by EU antitrust regulators. This was according to people who were familiar with the matter on Wednesday.
This case is related to the European Commission’s desire to increase its ability to investigate large companies’ acquisitions start-ups. The aim of this investigation is to shut down emerging rivals.
Critics refer to it as a power grab. It has also worried national competition agencies.
Luxembourg’s General Court is Europe’s second highest court. It declined to comment about the date.
Illumina, at an earlier court hearing last year, criticised the EU Competition enforcer for using this seldom used power to a company that has no European activities.
Illumina sent an email stating that the Commission had wrongly claimed jurisdiction over transactions between American businesses, with no impact on competition in Europe.
In September 2013, the company made the announcement that it would be able to access Grail’s Galleri blood test, which is used to detect cancer early in its development. This will allow the company to more easily treat the disease.
T-227/21 Illuminat v Commission is the case.