Illumina Calls It Quits after FTC Blocks Its $1.2B Offer for PacBio

DNA sequencer makers Illumina and Pacific Biosciences of California called off their $1.2 billion merger that’s been in the works for over a year after the Federal Trade Commission (FTC) challenged the transaction and described it as “monopolist.” “Considering the lengthy regulatory approval process the transaction has already been subject to and continued uncertainty of the ultimate outcome, the parties decided that terminating the agreement is in the best interest of their respective shareholders and employees,” the two companies said in a statement.

Read the full article: Illumina Calls It Quits after FTC Blocks Its $1.2B Offer for PacBio //

Source: https://www.fiercebiotech.com/medtech/illumina-calls-it-quits-after-ftc-blocks-its-1-2b-offer-for-pacbio

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