The Federal Trade Commission ordered Illumina to divest its controversial acquisition of cancer test developer Grail.The decision reverses an administrative judge's September ruling that dismissed the FTC's initial challenge of the $7.1 billion deal.Francis deSouza, chief executive officer of Illumina Inc., during a panel session on day three of the World Economic Forum in Davos, Switzerland, on Thursday, Jan. 19, 2023.
Illumina said in a statement that it intends to appeal the FTC's decision in federal court and will seek an expedited decision. Illumina said last month it has challenged the European Commission, arguing the agency lacks jurisdiction to block the merger between the two U.S. companies.