ILMN Illumina Inc

   By Sarah Sloat 
 

The European Union said Thursday it would open an in-depth investigation into Illumina Inc.'s proposed acquisition of Grail Inc. over concerns about competition and innovation in the market for cancer-detection tests based on sequencing technologies.

The European Commission, the EU's executive arm, has until Nov. 29, 2021, to decide on the $7.1 billion transaction.

"Cancer detection tests based on next generation sequencing technologies could revolutionize how cancer is detected and thus emerge as a game changer in the fight against the disease," the commission said.

The investigaiton will assess whether the deal would threaten the ability of cancer-detection test developers to compete and bring innovative products to market, it said.

Write to Sarah Sloat at sarah.sloat@wsj.com

(END) Dow Jones Newswires

July 22, 2021 12:42 ET (16:42 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.