Illumina Shares Fall After Disclosing SEC Investigation Into Grail Deal
August 11 2023 - 1:32PM
Dow Jones News
By Will Feuer
Shares of Illumina slid more than 4% after the gene-sequencing
company disclosed that the Securities and Exchange Commission is
investigating the company's $7 billion takeover of cancer-test
developer Grail.
The company said in a securities filing late Thursday that SEC
staff in July requested documents and communications related to
Illumina's buyout of Grail. The regulators also requested certain
statements and disclosures concerning Grail, its products and the
acquisition, as well as the conduct and compensation of certain
members of Illumina and Grail management, among other things.
Illumina said it is cooperating with the investigation.
The stock fell 4.3% to $177.19 in midday trading. So far this
year, shares have fallen more than 12%.
Write to Will Feuer at Will.Feuer@wsj.com
(END) Dow Jones Newswires
August 11, 2023 13:17 ET (17:17 GMT)
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