Mergers & Acquisitions,
Corporate
Jan. 6, 2020
Illumina drops $1.2B acquisition of California bioscience firm after FTC complaint
The agency alleged the deal was an unlawful attempt by Illumina to maintain its U.S. monopoly in the DNA sequencing market.
San Diego-based biotechnology company Illumina Inc. has canceled its planned $1.2 billion acquisition of Pacific Biosciences of California Inc. after the Federal Trade Commission challenged the deal, alleging it violated antitrust regulations, the agency said.
In an administrative complaint filed last month, the commission claimed Illumina sought "to unlawfully maintain its monopoly in the U.S. market for next-generation DNA sequ...
To continue reading, please subscribe.
For only $95 a month (the price of 2 article purchases)
Receive unlimited article access and full access to our archives,
Daily Appellate Report, award winning columns, and our
Verdicts and Settlements.
Or
$895, but save $100 when you subscribe today… Just $795 for the first year!
For only $95 a month (the price of 2 article purchases)
Receive unlimited article access and full access to our archives,
Daily Appellate Report, award winning columns, and our
Verdicts and Settlements.
Or
$895, but save $100 when you subscribe today… Just $795 for the first year!
Or access this article for $45
(Purchase provides 7-day access to this article. Printing, posting or downloading is not allowed.)
Already a subscriber?
Sign In