Reported 4 months ago
Illumina's board has approved the spinoff of Grail, the gene sequencing machine maker, slated for June 24. Shareholders will receive one common share of Grail for every six shares of Illumina, with Illumina retaining a 14.5% stake in the unit. The move comes after the deal to bring Grail back under Illumina's ownership three years ago faced antitrust scrutiny and opposition. The article also mentions the fine imposed on Illumina by the EU regulator and impairments due to Grail's expenditure and test delays.
Source: YAHOO