The information, which went a little unnoticed during the summer period, is likely to interest Vivendi. On July 12, the European Commission imposed a record fine of 432 million euros on the American biotechnology company Illumina, the world leader in genetic sequencing. He is blamed “for having carried out the acquisition of Grail, a start-up specializing in the detection of cancer, without having obtained prior authorization under merger control”. Taking the keys to a company that one acquires without having received the green light from the antitrust authorities is called in Brussels jargon the gun jumpingand the fine can go “up to 10% of the companies’ total turnover”, explains the Directorate General for Competition. These 432 million euros correspond to 10% of Illumina’s turnover. It is also the first time that Brussels has imposed a fine, even a symbolic one, of 1,000 euros, on the target company, Grail, for playing “an active role in this offence”.
The merger had been banned by the European Commission in September 2022, for fear that she “has significant anti-competitive effects, stifles innovation and reduces choice in the early cancer detection blood test market”. However, as early as August 2021, while the file was still being examined in Brussels, Illumina publicly announced that the operation had been completed. Margrethe Vestager, executive vice president in charge of competition, judges this infringement ” very serious “ because Illumina and Grail have “knowingly and deliberately” implemented their merger “while[’ils étaient] investigating”.
On July 25, the Directorate-General for Competition announced the opening of an investigation into a possible gun jumping of Vivendi on Lagardère (the parent company of Hachette Livre, the French number one in publishing, but also JDD and of Paris Match). “The Commission has gathered enough information to open a formal investigation procedure”said Margrethe Vestager.
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This survey “does not in any way prejudge the existence of an offence. It does not call into question the authorization of the acquisition of Lagardère by Vivendi issued by the European Commission., reacted the group of billionaire Vincent Bolloré. Since June 9, it has received the green light from Brussels to absorb its former rival, on the condition of selling Editis (French number two in the sector) and the magazine Gala. “Vivendi intends to cooperate fully”insisted the group, adding “have fully complied with the applicable rules on concentration” and committing “to continue to respect them”.
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