Illumina, Grail Merger Faces Full-Scale European Probe Amid Antitrust Concerns: Reuters - Illumina (NASDAQ:ILMN)

The proposed $8 billion merger between liquid biopsy firm Grail Inc and cancer blood screening firm Illumina Inc ILMN has met with nothing but flack since it was first announced in September.
In March, Federal Trade commissioners voted 4-0 to challenge the deal, and the deal is now facing a potential setback in the EU.
The EU is prepared to launch a full-scale probe into a pending merger, sources close to the deal told Reuters.
The proposed probe has evolved from a preliminary investigation that started last month, with the EU now seeking greater concessions from the deal.
The EU’s initial review is expected to wrap on July 22. Grail and Illumina have until just Thursday to expand their concessions beyond a commitment to cut prices by 2025 and provide contractual guarantees for fair pricing or face a more extensive investigation.
The Federal Trade Commission sued to stop approval of the merger, accusing the deal would slow innovation in cancer tests.
Price Action: ILMN shares are down 3.27% at $467.69 during the market session on the last check Wednesday.