The EU Commission adopts a Statement of Objections outlining measures to unwind a blocked acquisition of a nascent biotech company by a big biotech firm (Illumina / Grail)

Mergers: The Commission adopts a Statement of Objections outlining measures to unwind Illumina's blocked acquisition of GRAIL* The European Commission has sent a Statement of Objections to Illumina and GRAIL informing them of the restorative measures it intends to adopt under the EU Merger Regulation, following the Commission's decision to prohibit the implemented acquisition of GRAIL by Illumina. On 6 September 2022, the Commission prohibited the acquisition of GRAIL by Illumina over concerns that the merger would have stifled innovation and reduced choice in the emerging market for blood-based early cancer detection tests. Pending the Commission's review, in August 2021, Illumina had already completed its acquisition of GRAIL. Therefore, Illumina has to unwind the acquisition to