Illumina's Divestment Plan For Grail Receives Approval From European Commission

(RTTNews) - Friday, Illumina, Inc. (ILMN) announced that its divestment plan for Grail has received approval from the European Commission.

The method of divestment has not been finalized, but the company is exploring options such as a trade sale or a capital markets transaction.

If a capital markets transaction is pursued, Illumina will need to provide Grail with two-and-a-half years of funding, estimated at around $1 billion based on Grail's long-range plan.

Illumina stated that it is eager to collaborate with the European Commission to finalize terms in line with the divestment plan and aims to conclude these terms by the end of the second quarter of 2024.