BRUSSELS – EU antitrust regulators are expected to veto U.S. life sciences firm Illumina’s acquisition of biotechnology company Grail, people familiar with the matter said on Wednesday.
There are doubts whether concessions offered by Illumina last week to address the European Commission’s concerns about the $8 billion cash-and-stock deal will boost competition, the people said.
The concessions include royalty-free global licences for some of its patents and a three-year patent truce with Chinese rival BGI in Europe.
(Reporting by Foo Yun Chee; Editing by Jan Harvey)