Illumina rises after deciding to divest cancer test maker Grail

Illumina

18/12/2023 10:12

** Shares of gene sequencing company Illumina  ILMN.O  rise
3.5% to $131.49 premarket      
    ** Will divest cancer diagnostic test maker Grail  GRAL.O 
after over two years of antitrust battles  
    ** Divestiture will be executed through a third-party sale
or capital markets transaction
    ** Terms will be finalized by Q2 2024
    ** Grail will continue to be held separate with committed
funding from Illumina through the divestment process 
    ** Up to last close, stock down 37.1% YTD 

 (Reporting by Mariam Sunny in Bengaluru)
 ((Mariam.ESunny@thomsonreuters.com;))