Illumina facing EU fine of 10% turnover over Grail deal, Reuters says

Illumina is likely to face a fine of 10% of its global annual turnover, the maximum penalty, for closing its takeover of Grail without waiting for EU antitrust approval, Reuter’s Foo Yun Chee reports, citing people familiar with the matter. Last month Illumina defended its case before senior European Commission and national competition officials at a closed hearing but failed to convince them, the people said. Illumina, which last year set aside $453M for a potential EU fine, said it would appeal against any fine, the author notes. Reference Link