Illumina Prevails in EU Court Over Grail Merger Probe
Ruling limits European Commission's power to review mergers below revenue thresholds, impacting future regulatory actions.
Overview
- Illumina wins court case against EU's investigation of its $7.1 billion Grail acquisition.
- European Court of Justice rules the EU overstepped its authority using Article 22.
- The decision removes Illumina's obligation to pay a $478 million fine.
- The ruling emphasizes the importance of adhering to revenue thresholds for merger reviews.
- EU competition chief Margrethe Vestager to reassess regulatory strategies post-ruling.