LONDON — Europe’s top court on Tuesday ruled that regulators overstepped in challenging the DNA sequencing behemoth Illumina’s acquisition of Grail, finding that the European Commission did not have jurisdiction over the deal.
The decision won’t have a major impact on the Illumina-Grail relationship, with Illumina having divested the cancer screening company over the summer. But as a result, Illumina won’t have to pay the 432 million Euro (about $475 million) fine that the commission sought to impose on the San Diego-based company.
“Today’s judgment confirms Illumina’s longstanding view that the European Commission exceeded its authority by asserting jurisdiction over this merger,” Illumina said in a short statement.
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