Illumina slapped with record-breaking €432mn fine for Grail deal without EU approval

Illumina, a leading genomics company, has been hit with a record €432 million fine by the European Union for disregarding concerns over its acquisition of cancer detection firm Grail. The EU accused Illumina of proceeding with the deal without seeking approval, which violated antitrust rules. This marks the largest fine ever imposed by the EU for gun-jumping, where companies complete mergers or acquisitions before obtaining regulatory clearance.