Jeff Jacobovitz, AGG trial attorney and chair of the firm’s Antitrust group, was quoted in a September 6, 2022, Wall Street Journal article discussing the European Union’s blocking of Illumina Inc.’s acquisition of cancer-test developer Grail Inc.
The bloc’s antitrust regulator said the purchase would stifle innovation and reduce choice in an emerging market for early cancer-detection blood tests. The action is a significant intervention by the European competition authority in a case involving Grail, a U.S. company with no current revenue inside the bloc.
“The fact that the EU has done this I think will open eyes wide to parties looking to purchase or buy sellers who don’t have any revenue,” said Jeff.
Jeff also added that it is not unusual for the EU, which aggressively pursues antitrust enforcement, to weigh in on a transaction involving two U.S. companies as long as it has jurisdiction.
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