The EC’s review of Illumina’s acquisition of GRAIL raises two novel issues: the assertion of jurisdiction by the EC over transactions that do not meet any national or EU jurisdictional merger control tests, and the use of interim measures to stop parties closing a transaction where the EC has decided it wants to review the compatibility of the proposed concentration under the EU merger rules. Background On 26 March 2021, the EC published guidance that expands its jurisdiction to review transactions under the EUMR that do not meet any EU or national merger control thresholds via the rarely used referral mechanism enshrined in Article 22 EUMR (Guidance). The Guidance provides that the EC can review proposed concentrations upon referral from Member States even when they themselves do not
The EU Commission investigates a merger between two genomics companies (Illumina / GRAIL)
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