Illumina Wins Court Fight With EU Over $7 Billion Grail Deal (1)

Illumina Inc.’s blocked $7 billion takeover of cancer-detection provider Grail Inc. should never have been probed by the European Union, according to a top court ruling that undermines the EU’s attempt to vet more global deals.

The European Commission overstepped its authority by using the US takeover to test new powers to review acquisitions that would previously have flown under its radar, judges at the EU’s Court of Justice in Luxembourg said on Tuesday.

Illumina said the EU court confirmed that the commission “exceeded its authority by asserting jurisdiction over this merger.” It also said it would no ...