BRUSSELS – The European Fee stated on Tuesday it had despatched an announcement of objections to U.S. life sciences companies Illumina and GRAIL alleging they breached EU merger guidelines by implementing the merger whereas the Fee’s in-depth investigation into the proposed transaction was nonetheless ongoing.
“If corporations soar the gun and implement offers which might be topic to our evaluation, they undermine the efficient functioning of our EU merger management system. It is a severe breach of the standstill obligation,” Fee Government Vice-President Margrethe Vestager, accountable for competitors coverage, stated.
“Illumina and GRAIL have brazenly finished so by implementing their deal whereas the Fee remains to be finishing up its in-depth investigation. This might end in hefty fines,” she stated.
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