Illumina Wins EU Court Battle Over Grail Acquisition

The European Court of Justice of the European Union (CJEU) has ruled in favor of U.S. gene sequencing company Illumina in its legal battle against EU antitrust regulators over the company's $7.1 billion acquisition of cancer diagnostic test maker Grail. The court overturned a previous ruling by the General Court in 2022, which had allowed the European Commission to review the deal despite it being below the EU merger revenue threshold. Illumina had challenged the European Commission's use of Article 22 to assess the merger.

This decision by the CJEU effectively nullifies the 432 million euro fine imposed on Illumina and supports the company's argument that the EU had overstepped its jurisdiction. The Commission had initially blocked the deal and ordered Illumina to divest Grail, citing competition concerns. The ruling is significant as it curbs the European Commission's merger review powers, particularly concerning transactions that fall below established revenue thresholds.