Replies to post #221878 on Biotech Values

[Biowatch]

UK concerned ILMN acquisition of PACB anticompetitive

https://www.thestreet.com/investing/stocks/pacific-bio-shares-fall-on-uk-antitrust-concern-about-illumina-deal-14994907

By Robert Daniel
June 18, 2019

Shares of Pacific Biosciences of California Inc. ( (PACB - Get Report) ) were lower after the U.K. antitrust authority expressed concern that the company's plan to be acquired by Illumina Inc. ( (ILMN - Get Report) ) could hurt competition...

...Pacific Biosciences "recently released a new, innovative system for DNA sequencing ... which means that it is well-positioned to offer stronger competition to Illumina," the agency said in a statement.

https://www.gov.uk/government/news/illumina-s-takeover-of-pacbio-raises-competition-concerns

[DewDiligence]

FTC seeks to block ILMN-PACB merger:

https://www.wsj.com/articles/federal-trade-commission-challenges-illuminas-proposed-acquisition-of-pacific-biosciences-11576618091

The Federal Trade Commission on Tuesday challenged Illumina Inc.’s. proposed acquisition of Pacific Biosciences of California, a $1.2 billion deal in the life-sciences industry.

The FTC…[alleges] the biotech acquisition would allow Illumina to unlawfully maintain a monopoly in next-generation DNA sequencing by eliminating PacBio as a nascent competitor.

…The commission plans to hold full legal proceedings in its own administrative court but also said it would file a concurrent action in federal court if necessary to block the deal temporarily.

[DewDiligence]

ILMN, PACB terminate merger that FTC sought to block (#msg-152849541):

https://www.businesswire.com/news/home/20200102005512/en/

ILMN must pay PACB a $98M breakup fee.