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Illumina Pays Pacific Biosciences $98M To Terminate $1.2Bn Merger Deal

Executive Summary

Illumina had planned to acquire Pacific Biosciences to add the company's “long-read” gene sequencing systems to Illumina's own range of "short-read" technologies. However, the UK’s Competition and Markets Authority and the US Federal Trade Commission concluded that the deal would significantly reduce competition in the DNA sequencing market.

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