Latham & Watkins Advises GRAIL in Acquisition By Illumina

Illumina, Inc. (NASDAQ: ILMN) and GRAIL, a healthcare company whose mission is focused on multi-cancer early detection, announced that they have entered into a definitive agreement under which Illumina will acquire GRAIL for cash and stock consideration of $8 billion upon closing of the transaction. In addition, GRAIL stockholders will receive future payments representing a tiered single digit percentage of certain GRAIL-related revenues. The agreement has been approved by the Boards of Directors of Illumina and GRAIL.

Latham & Watkins LLP represents GRAIL in the transaction with an M&A deal team led by Los Angeles partner Alex Voxman and associate Andrew Clark, with assistance from Century City partner David Zaheer, Los Angeles counsel Brian Duff, and associates Jason Kass, Eduard Grigoryan, Timothy Day, Tess Bloom, Natalie Robertson, and Briana Cornelius. Advice was also provided on capital markets matters by San Diego partner Cheston Larson, Bay Area partner Brian Cuneo, and San Diego counsel Christopher Geissinger; on tax matters by New York partner Lisa Watts, with associate Eric Kamerman; on employee benefits and compensation matters by Los Angeles partner Larry Seymour and Bay Area partner Julie Crisp, with associate Jordan David; on antitrust matters by Washington, D.C. partner Michael Egge and Washington, D.C. counsel Patrick English, with associate Barrett Tenbarge; on intellectual property matters by Bay Area partner Christopher Hazuka, with associate Robert Yeh; and on FDA regulatory matters by Washington, D.C. partner Elizabeth Richards.