Illumina Must Release Records of Legal Advice for Grail Deal

Illumina Inc. must release records related to the legal advice its board received before deciding to close a $7 billion re-acquisition of cancer detection startup Grail Inc., a deal ultimately unwound under antitrust scrutiny.

Vice Chancellor Paul A. Fioravanti Jr. said Tuesday he approved a “narrow, additional inspection” of documents related to the Illumina board’s decision, partially granting a pension fund’s demand for internal books and records to investigate allegations the DNA-sequencing company’s board rushed to wrap up the transaction despite antitrust worries.

Knowing what legal advice informed the board’s decision to close the merger is “necessary” for the investigation, ...