EU Set to Hit Illumina With Fine on Wednesday Over Grail Deal
- Illumina plans to appeal forthcoming EU fine over Grail
- Order to divest cancer-test startup expected later this year
A technician places a flow cell glass slide into an Illumina Inc. DNA sequencing machine.
Photographer: Anthony Kwan/BloombergThis article is for subscribers only.
European Union merger officials are set to issue a fine against Illumina Inc. on Wednesday for closing its deal with cancer-test provider Grail Inc. without securing regulatory approval first, according to people familiar with the matter.
The fine could amount to 4% of its revenue, said one of the people, though it could also be higher. The company has already put aside $453 million to cover a potential maximum fine of 10% of its annual revenue.