Illumina’s Pyrrhic victory in European case over Grail acquisition

Illumina’s legal win in Europe is cold comfort given its attempt to acquire early cancer detection company Grail had already fallen apart in a lengthy battle that was costly for both companies.

On Tuesday, the European Court of Justice granted Illumina Inc. (NASDAQ:ILMN) a victory by ruling that the European Commission should not have intervened in the transaction to acquire then-private Grail Inc. The ruling may affect how the EC applies its merger regulation in the future, but it does little for Illumina and Grail. ...