Illumina 'Wasting Court Time' With Deal Overtures, FTC Says
Law360 (July 21, 2021, 8:59 PM EDT) -- Federal Trade Commission staffers contesting biotech giant Illumina's planned $8 billion purchase of cancer detection company Grail assailed the companies Tuesday for seeking a settlement conference in the in-agency challenge process, arguing the firms aren't sincere and are really just trying to get an advanced peak at FTC tactics.
Staffers, referred to as complaint counsel, told an FTC administrative law judge in a court filing that the agency is open to "any good faith settlement proposal" to alleviate concerns that the tie-up will hamper competition for the creation of multi-cancer early detection tests that use DNA sequencing to find different types...
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