US FTC orders Illumina to divest cancer detection test maker Grail

Synopsis

Judge Michael Chappell, an administrative law judge at the agency, ruled last year that the $7.1 billion acquisition would not hurt competition. The FTC staff had appealed the decision to agency leadership.

US FTC orders Illumina to divest cancer detection test maker GrailAgencies
The U.S. Federal Trade Commission (FTC) said on Monday it had ordered Illumina to divest from cancer detection test maker Grail, finding that its ownership would stifle competition in the U.S. market for life-saving cancer tests.

Judge Michael Chappell, an administrative law judge at the agency, ruled last year that the $7.1 billion acquisition would not hurt competition. The FTC staff had appealed the decision to agency leadership.
Experience Your Economic Times Newspaper, The Digital Way!

Read More News on

(What's moving Sensex and Nifty Track latest market news, stock tips and expert advice on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds.)

Download The Economic Times News App to get Daily Market Updates & Live Business News.

...more
Pick the best stocks for yourself
Powered by