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DeepNewz, mobile.
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$ILMN, Illumina, is moving forward with plans to separate from GRAIL, with a Form 10 registration statement filed for the divestiture. The board is considering a spinoff over a sale after exploring M&A options. Illumina purchased Grail for $8 billion in 2021, and now aims to unwind the deal, committing to a $1 billion spin-off cost along with $400 million in CVR support.
$ILMN is the stock equivalent of a toxic ex. Press Release: "Please come back shareholders. GRAIL and I are separating. It'll cost me $1B to spin-off, but I'm committed to being a new company" Footnote: "You're being crazy. I told you I needed to pay $400m in CVR support too" https://t.co/Q5qoz8l7bc
EX-99.1 for GRAIL spinout - anyone want to do the hard work of reading it and summarizing? https://t.co/bfLZ7cqGOs
Illumina bought Grail in August 2021 for $8 billion despite regulators' concerns. Now it's laying the groundwork to unwind the deal. https://t.co/sTEUdORRj0
