The divestiture will be executed through a third-party sale or capital markets transaction
Illumina Building 1. (Credit: Illumina, Inc. )
Today, Illumina announced that the company will divest GRAIL.
The divestiture will be executed through a third-party sale or capital markets transaction, consistent with the European Commission’s divestiture order, with the goal of finalizing the terms by the end of the second quarter of 2024.
On December 15, the U.S. Fifth Circuit Court of Appeals issued its decision in the matter of Illumina v. the Federal Trade Commission.
Following a review of the Court’s opinion, Illumina has elected not to pursue further appeals of the Fifth Circuit’s decision.
As the company has previously stated, if it was not successful with either its European Court of Justice jurisdictional appeal or in a final decision of the Fifth Circuit, it would divest GRAIL.
“We are committed to an expeditious divestiture of GRAIL in a manner that allows its technology to continue benefitting patients,” said Jacob Thaysen, CEO of Illumina. “The management team and I continue to focus on our core business and supporting our customers. I am confident in Illumina’s opportunities and our long-term success.”
Source: Company Press Release