By Laurence Norman
The European Union's executive arm said it was opening a probe into Illumina Inc.'s decision to complete its $7.1 billion purchase of Grail Inc. despite an antitrust investigation.
The European Commission said Friday that the probe would assess whether Illumina's move breached the bloc's rules calling for companies to put on hold mergers while the EU is already investigating antitrust concerns.
The deal has become a test case for EU antitrust powers. If the Commission decides Illumina has breached its rules, it could face fines of up to 10% of its revenue.
(MORE TO FOLLOW) Dow Jones Newswires
August 20, 2021 06:24 ET (10:24 GMT)Copyright (c) 2021 Dow Jones & Company, Inc.