“Formalistic”, “reductionist”, “selective and unbalanced or even deficient”. Advocate General Juliane Kokott did not mince her words in last week’s Opinion on the General Court’s judgment in CK Telecoms, in which she asks the Court of Justice to annul the judgment and refer the case back to the General Court. An AG Opinion is an … Continue reading Three/O2 – EU merger control test clarified? (And lions in Regent’s Park)
The European Commission has blocked a merger that did not meet any European jurisdictional thresholds for the first time. In a case that has seen the Commission pushing at the boundaries of its remit, it has prohibited Illumina’s $8 billion acquisition of GRAIL. Article 22 EUMR The Illumina/GRAIL merger did not meet the thresholds under … Continue reading Illumina/Grail: An unholy war continues
Today the General Court handed down its hotly anticipated judgment in the Illumina/GRAIL merger, deciding that the European Commission has jurisdiction to review the merger. This judgment is hugely consequential, as it confirms that EU Member States have the power to refer mergers to the Commission even when those mergers do not meet the national … Continue reading Legitimately expected: Commission may review Illumina/GRAIL deal
The National Security and Investment Act 2021 (NSI Act) comes into force on 4 January 2022. From then, the UK Government will be empowered to call in for review any qualifying acquisition which may give rise to UK national security concerns. The NSI Act captures acquisitions of any size, including in certain cases where minority … Continue reading New UK national security rules – What do they mean for life science investments?
In this post, we share the latest developments in the Illumina/GRAIL merger. This case involves the now completed acquisition by Illumina of GRAIL, a company that has developed a test, which has shown the ability to detect multiple cancers from a single blood draw. GRAIL was founded by Illumina but spun off in 2016. Illumina … Continue reading The Amici Curiosi – And other developments in Illumina/GRAIL