The EU Commission issues a Statement of Objections to two American firms which concluded a merger in defiance of the standstill obligation potentially opening themselves up to substantial fines (Grail / Illumina)

Mergers: Commission alleges Illumina and GRAIL breached EU merger rules by early implementation of their acquisition* The European Commission has sent a Statement of Objections alleging that Illumina and GRAIL breached the EU Merger Regulation by implementing the acquisition while the Commission's in-depth investigation into the proposed transaction is still ongoing. Executive Vice-President Margrethe Vestager, in charge of competition policy, said: “If companies jump the gun and implement deals that are subject to our review, they undermine the effective functioning of our EU merger control system. This is a serious breach of the standstill obligation. Illumina and GRAIL have openly done so by implementing their deal while the Commission is still carrying out its in-depth

Access to this article is restricted to subscribers

Already Subscribed? Sign-in

Access to this article is restricted to subscribers.

Read one article for free

Sign-up to read this article for free and discover our services.

 

PDF Version

Author

Quotation

European Commission, The EU Commission issues a Statement of Objections to two American firms which concluded a merger in defiance of the standstill obligation potentially opening themselves up to substantial fines (Grail / Illumina), 19 July 2022, e-Competitions July 2022, Art. N° 107819

Visites 82

All issues

  • Latest News issue 
  • All News issues
  • Latest Special issue 
  • All Special issues