The Federal Trade Commission said it would appeal a decision issued on Thursday by the agency’s chief administrative judge in favor of Illumina’s $7.1 billion acquisition of cancer detection test maker Grail Inc.
Judge D. Michael Chappell ruled the acquisition will not hurt competition, in a blow to the agency, which was challenging the deal. The ruling has not yet been made public.
Under FTC rules, the decision is subject to review by the full Federal Trade Commission. The FTC staff filed a notice Friday appealing the decision. Illumina shares closed down 2.3% on Friday.
Increasing competition has been a mandate of the Biden administration, and the director of the FTC’s Bureau of Competition, Holly Vedova, had said on Thursday the agency was considering challenging the judge’s ruling.
The FTC filed a lawsuit in March 2021 to stop Illumina’s deal to buy its former subsidiary Grail, arguing it would slow innovation for tests designed to detect multiple kinds of cancer. The vote to sue was unanimous.
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
CVS Health Explores Potential Breakup Amid Investor Pressure: Report
Oct 3, 2024 by
CPI
DirecTV Acquires Dish TV, Creating 20 Million-Subscriber Powerhouse
Oct 3, 2024 by
CPI
South Korea Fines Kakao Mobility $54.8 Million for Anti-Competitive Practices
Oct 3, 2024 by
CPI
Google Offers Settlement in India’s Antitrust Case Regarding Smart TVs
Oct 3, 2024 by
CPI
Attorney Challenges NCAA’s $2.78 Billion Settlement in Landmark Antitrust Cases
Oct 3, 2024 by
nhoch@pymnts.com
Antitrust Mix by CPI
Antitrust Chronicle® – Refusal to Deal
Sep 27, 2024 by
CPI
Antitrust’s Refusal-to-Deal Doctrine: The Emperor Has No Clothes
Sep 27, 2024 by
Erik Hovenkamp
Why All Antitrust Claims are Refusal to Deal Claims and What that Means for Policy
Sep 27, 2024 by
Ramsi Woodcock
The Aspen Misadventure
Sep 27, 2024 by
Roger Blair & Holly P. Stidham
Refusal to Deal in Antitrust Law: Evolving Jurisprudence and Business Justifications in the Align Technology Case
Sep 27, 2024 by
Timothy Hsieh