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UK: Illumina scraps $1.2B PacBio takeover over antitrust pushback

By  |  January 5, 2020

Illumina has pulled out of its planned US$1.2 billion takeover of Pacific Biosciences of California, the genetic sequencing giant announced Thursday, January 2.

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    The action follows resistance to the takeover from the Federal Trade Commission and other regulators on the grounds that it would reduce competition.

    Illumina will pay US$98 million to cancel the deal, but could recoup that outlay if another company strikes a deal to buy PacBio before October. Cowen analysts listed Agilent Technologies, Danaher, and Thermo Fisher Scientific as potential buyers of PacBio.

    Full Content: Gov UK

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