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Illumina wins court battle with EU over $7 billion Grail takeover

Business Standard LogoBusiness Standard6h ago

Illumina wins court battle with EU over $7 billion Grail takeover - Business Standard

Quick Summary:

Under the controversial system, the Brussels-based commission encouraged national regulators to ask it to probe deals that would normally fall below the threshold for EU investigations.

At issue in the case are key changes to EU merger review processes in 2021 to pick up takeovers of low- or zero-revenue targets that previously escaped a proper review — a source of deep frustration particularly over Big Tech’s appetite for snapping up fledgling rivals.

Armed with its new powers, the EU’s antitrust arm decided to examine the deal’s potential impact on the industry — even though the combination would initially have no footprint in Europe.


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Article Details

Category: BusinessFinance

Markets:

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Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-03 @ 22:35:51 (6 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 613 words

Reading Time: 4 minutes read

Sentences: 21 lines

Sentence Length: 30 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 22352405

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Main Topics: BusinessFinance

Official Website: business-standard.com

Update Frequency: 348 posts per day

Year Established: 1975

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News Last Updated: 5 hours ago

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