The U.K.’s Competition and Markets Authority says Illumina’s proposed takeover of Pacific Biosciences of California raises competition concerns in the supply of specialist DNA sequencing systems in the U.K., jeopardizing the $1.2B merger deal.
CMA also is concerned about potentially higher prices or lower quality products and less innovation in the market.
The companies have until next week to respond to questions raised by the CMA investigation.
ILMN says it now expects to close the transaction in Q4 and warns the proposed acquisition is subject to “certain conditions beyond the company’s control that may prevent, delay or otherwise adversely affect its completion.”
Want to publish your own articles on DistilINFO Publications?
Send us an email, we will get in touch with you.
Date: June 24, 2019
Source: Seeking Alpha