Illumina, the leading maker of DNA sequencing machines, has announced that it will divest Grail, the developer of a multi-cancer screening test, due to objections from regulators in the U.S. and Europe following a merger in August 2021 that was deemed anti-competitive. The decision follows a court ruling and Illumina aims to finalize the deal by the end of the second quarter of 2024. This move marks the end of a failed attempt to re-acquire Grail and is considered one of the most disastrous attempted mergers in biotech history.
Source link
Grail spinoff by Illumina should end disastrous merger attempt
