Hints and tips:
...A senior EU court adviser has said the European Commission was wrong to block gene sequencing group Illumina’s $8bn acquisition of Grail and that the decision should be scrapped....
...The step is intended to deepen the punishment for Illumina after Brussels fined the world’s largest gene-sequencing company €432mn in July for defying what regulators described as a “cornerstone” of their...
...The fine, which can be up to $453mn or 10 per cent of the group’s turnover, would exceed the previous record of €125mn imposed on telecoms group Altice in 2018 — 1 per cent of the company’s turnover, according...
...Illumina’s punishment dwarfs the previous largest penalty for a similar infringement, when telecoms group Altice was hit with a €125mn fine, equivalent to 1 per cent of its revenues....
...Illumina bought cancer test developer Grail for $8bn in 2021, even though US and EU authorities complained the US gene sequencer could deny crucial inputs to Grail’s rivals....
...And one smart listen: Gene sequencing company Illumina took a bet on cancer detection start-up Grail during the height of the biotech boom. The FT’s Behind the Money podcast explains what went wrong....
...failed to take responsibility for the “value crimping” acquisition of cancer-screening group Grail....
...The start-up is a subsidiary of the world’s biggest gene sequencing company Illumina, which acquired it for $7bn in 2021....
...Caro is among a pioneering group of people in the US and UK who have elected to take part in a new form of cancer screening known as multi-cancer early detection tests (MCED)....
...An EU court ruled that Brussels has the jurisdiction to examine the $8bn merger of US biotech groups Illumina and Grail even though the latter company has no revenues in Europe and the deal does not require...
...Take AQR Capital Management, the investment group led by Captain America fan, former Gene Fama protégé and full-time angry Twitter person Clifford Asness....
...Meanwhile, US start-up Intellia Therapeutics has successfully treated the first patients using a Crispr gene-editing therapy directed inside the body to an internal organ — a breakthrough, with the technology...
...“This is just the latest regrettable example of a senior government official selling out his public service to big finance,” said Dennis Kelleher, president of the advocacy group Better Markets....
...said Brian Wieser, head of business intelligence at GroupM, part of advertising group WPP. “It’s certainly higher than we expected two weeks ago.”...
...A group of state AGs, who have had a parallel investigation and who did not join the DoJ’s case, said on Tuesday they were planning to file their own suit in the coming weeks, and that this would probably...
...With a $2.5bn stake in the Japanese technology group, the group pushed for share buybacks to the tune of $20bn....
...The Celgene takeover is the largest of several significant pharma and healthcare deals in the first quarter, with others including Roche’s $4.8bn purchase of gene therapy company Spark Therapeutics and Johnson...
...The aviation-to-finance group is trying to buttress its balance sheet as $20bn of its US dollar-denominated debts mature this year and next....
...The result, announced by the company in May, was a $30m investment from a group that included Shenzhen Capital Group, a venture capital firm launched in the late 1990s by the southern city’s municipal government...
...such as steel, aluminium and soyabeans, the underlying motivation of the new protectionist mood is American anxiety about China’s rapidly growing technological prowess, according to the FT's Trade Editor Shawn...
...The commerce secretary owns shares through several offshore entities in Navigator Holdings, a shipping group listed on the New York Stock Exchange....
...Corporate earnings reports out today include CK Hutchison Holdings, Cheung Kong Property, Asahi Group, Kirin, Sumitomo, NTT Data, Suzuki Motor, Nikon, CapitaLand, Sega Sammy and MGM China Holdings....
...“If this were to take effect, it would absolutely move the company in the right direction,” says Shawn Carolan of Menlo Ventures, one of the shareholders that will be diluted....
...Campaigners from the same group — Fed Up — will instead be agitating for her reappointment to her post....
...Additional reporting by Shawn Donnan...
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