Illumina Deal Sent Back to FTC for Review by Appeals Court (1)

A US appeals court found that Illumina Inc.’s $7 billion acquisition of cancer detection startup Grail Inc. violated antitrust laws, but sent the case back to the US Federal Trade Commission for a fresh review.

The panel found Friday that while the sale is likely to “substantially lessen competition,” the federal regulator misapplied antitrust standards when conducting an internal assessment of the deal and determined that its decision should be vacated.

The ruling by the Fifth Circuit Court of Appeals is the latest twist in a trans-Atlantic legal fight over the sale and will drag out any resolution for ...