Senior Advisor's Critique Signals Potential Reversal of EC Ruling on Illumina Acquisition
Why Illumina Stock Zoomed Higher on Thursday
The company's chances for winning an important legal battle have improved dramatically. A top court advisor criticizes a ruling in Europe that could lead to a reversal of an 'improper' decision by the European Commission (EC).
A potential reversal of an 'improper' decision
The advocate general's opinion carries a great deal of weight in regulatory and judicial matters in the EU. However, it's important to note that it is only advisory, and the EC has the power to make the final decision.
Not surprisingly, Illumina greeted Emiliou's move warmly, acknowledging the assertion of jurisdiction over the merger was improper.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.