Grail is set to be acquired for $8 billion by Illumina, the gene sequencing giant that formed the cancer diagnostics developer and spun it out as a separate company four years ago. The announcement comes less than two weeks after Menlo Park, CA-based Grail revealed its plans for an IPO to support commercialization of its first test next year.
The deal announced Monday is a cash and stock transaction. Grail stockholders—including Illumina (NASDAQ: ILMN), Grail’s largest stockholder owning about 14.5 percent—will receive $3.5 billion in cash and $4.5 billion in shares of Illumina common stock. Those Illumina shares will have... Read more »
UNDERWRITERS AND PARTNERS
Author: Frank Vinluan
Date : 2020-09-21T13:48:55.000Z