Illumina, Inc. / Pacific Biosciences of California, Inc. merger inquiry

The CMA investigated the anticipated acquisition by Illumina, Inc. of Pacific Biosciences of California, Inc.

From:
Competition and Markets Authority
Published
17 April 2019
Last updated
6 January 2020 — See all updates
Case type:
Mergers
Case state:
Closed
Market sector:
Healthcare and medical equipment
Outcome:
Mergers - phase 2 cancellation
Opened:
17 April 2019
Closed:
6 January 2020

Phase 2

Administrative timetable

Date of referral: 27 June 2019

Statutory deadline: 5 February 2020

Contact

general.enquiries@cma.gov.uk

Merger abandoned

3 January 2020: Illumina has abandoned its anticipated takeover of PacBio after an in-depth CMA merger probe highlighted serious competition concerns.

Illumina’s response to the CMA’s remedies working paper

Parties’ Response to Provisional Findings

Notice of extension of inquiry period

The Inquiry Group has decided to extend the reference period by 8 weeks under section 39(3) of the Enterprise Act 2002. The Inquiry Group aims to complete the inquiry as soon as possible and in advance of this date.

Third party response to notice of possible remedies and provisional findings

Parties’ response to notice of possible remedies

Provisional Findings

24 October 2019: The CMA has provisionally found competition concerns as part of its in-depth investigation of the anticipated acquisition between Illumina and PacBio.

Third party submissions

Issues statement

1 August 2019: The issues statement sets out the scope of the inquiry. It outlines initial theories on what might be adversely affecting competition, but it does not set out findings or conclusions. The deadline for submissions on the issues statement is 5pm, Thursday 15 August 2019.

Merger notice

Response to phase 1 decision

Inquiry group appointed

27 June 2019: The CMA has appointed the inquiry group:

Stuart McIntosh (Chair), Humphrey Battcock, Colleen Keck and John Thanassoulis

Terms of reference

27 June 2019: the CMA has referred the anticipated acquisition by Illumina, Inc. of Pacific Biosciences of California, Inc. for an in-depth investigation.

Phase 1

Statutory timetable

Phase 1 date Action
18 June 2019 Decision announced
17 April 2019 Launch of merger inquiry
17 April to 3 May 2019 Invitation to comment

Reference decision

27 June 2019: The CMA has referred the anticipated acquisition by Illumina Inc. of Pacific Biosciences of California, Inc. for an in-depth investigation, on the basis that, on the information currently available to it, it is or may be the case that this merger has resulted or may be expected to result in a substantial lessening of competition within a market or markets in the United Kingdom.

Reference unless undertakings accepted

18 June 2019: The CMA has decided, on the information currently available to it, that it is or may be the case that this merger has resulted or may be expected to result in a substantial lessening of competition within a market or markets in the United Kingdom. This merger will be referred for a phase 2 investigation unless the parties offer acceptable undertakings to address these competition concerns.

Launch of merger inquiry

17 April 2019: The CMA announced the launch of its merger inquiry by notice to the parties.

Invitation to comment: closes 3 May 2019

17 April 2019: The Competition and Markets Authority (CMA) is considering whether it is or may be the case that this transaction, if carried into effect, will result in the creation of a relevant merger situation under the merger provisions of the Enterprise Act 2002 and, if so, whether the creation of that situation may be expected to result in a substantial lessening of competition within any market or markets in the United Kingdom for goods or services.

Contact

Please send written representations about any competition issues to:

general.enquiries@cma.gov.uk

Published 17 April 2019
Last updated 6 January 2020 + show all updates

  1. Notice of cancellation of merger reference published.

  2. Update added following the abandonment of the merger by the parties.

  3. Third party response to notice of possible remedies and provisional findings published.

  4. Published: Illumina’s response to the CMA’s remedies working paper, draft form license agreement, and third party response to notice of possible remedies and provisional findings.

  5. Parties’ response to provisional findings published.

  6. Notice of extension of inquiry period published, administrative timetabled updated.

  7. Third party responses to notice of possible remedies published.

  8. Parties' revised remedies proposal published.

  9. Parties’ response to notice of possible remedies published.

  10. Full provisional findings report published.

  11. Summary of provisional findings and notice of possible remedies published.

  12. Third party submission published.

  13. Third party submission published.

  14. Published: Issues statement, merger notice, administrative timetable, and parties’ response to phase 1 decision.

  15. Decision to refer and terms of reference published.

  16. Commencement of initial period notice published

  17. First published.

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