EU says Illumina and Grail breached EU merger rules, could face fines

BRUSSELS : The European Commission said on Tuesday it had sent a statement of objections to U.S. life sciences firms Illumina and GRAIL alleging they breached EU merger rules by implementing the merger while the Commission's in-depth investigation into the proposed transaction was still ongoing.

"If companies jump the gun and implement deals that are subject to our review, they undermine the effective functioning of our EU merger control system. This is a serious breach of the standstill obligation," Commission Executive Vice-President Margrethe Vestager, in charge of competition policy, said.

"Illumina and GRAIL have openly done so by implementing their deal while the Commission is still carrying out its in-depth investigation. This could result in hefty fines," she said.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Greece's fur industry on the brink as EU sanctions on Russia biteKASTORIA, Greece: For decades, Antonis Disios' workshop was abuzz with the sound of sewing machines stitching fur coats for his wealthy Russian buyers. In March, European Union sanctions against Russia over the Ukraine war shut the business overnight. Disios, like hundreds of other fur businesses in the la
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »