EU High Court Rules in Favor of Illumina in Grail Acquisition Appeal

Court Ruling:
The European Court of Justice (ECJ) ruled in favor of Illumina, stating that the European Commission did not have jurisdiction over Illumina's acquisition of Grail.

Fine Annulled:
The ruling annuls the €432 million fine imposed by the European Commission for proceeding with the acquisition before obtaining approval.

Grail Spin-Off:
Despite the legal victory, Illumina had already spun off Grail as a standalone company in June 2024, rendering the ruling too late to impact the acquisition.

Commission's Response:
The European Commission will review the implications of the judgment to ensure it can address mergers impacting Europe, even if they don't meet EU notification criteria.

Illumina's Position:
Illumina maintains a 14.5% stake in Grail and will continue to support the company with its sequencing technology and services.