Illumina to Divest Cancer Test Maker Grail after Antitrust Battles

Gene sequencing company Illumina (ILMN.O) said on Sunday it will divest cancer diagnostic test maker Grail (GRAL.O) after the companies battled both U.S. and European antitrust enforcers for more than two years and faced fierce opposition from activist investor Carl Icahn. The divestiture will be executed through a third-party sale or capital markets transaction, San Diego-based Illumina said in a statement, adding that it would finalize the terms by second quarter of 2024. Grail, valued at $7.1 billion under Illumina’s deal, is seeking to market a blood test that can diagnose many kinds of cancer, known as a liquid biopsy.

Read the full article: Illumina to Divest Cancer Test Maker Grail after Antitrust Battles //

Source: https://www.reuters.com/markets/deals/illumina-divest-cancer-test-maker-grail-2023-12-17

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