European Court annulled EU Commission's block of Illumina's $7.1B Grail acquisition, limiting EU's ability to regulate smaller mergers.

The European Court of Justice ruled that the European Commission overstepped its authority by trying to block Illumina's $7.1 billion acquisition of Grail, a cancer diagnostic company. The court annulled a €432 million fine imposed by the Commission and clarified that the EU cannot review mergers lacking significant European revenue. This landmark decision limits the EU's ability to regulate smaller takeovers and may lead to discussions on competition laws.

September 03, 2024
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