SummaryCompanies Fine corresponds to 10% of Illumina global turnoverGrail given symbolic 1,000-euro fine for active roleIllumina says fine disproportionate, will appealBRUSSELS, July 12 (Reuters) - U.S. genetic testing company Illumina (ILMN.O) was fined a record 432-million-euro ($476 million) by the EU on Wednesday for closing its takeover of cancer test maker Grail (GRAL.O) before securing EU antitrust approval. By closing the deal prematurely, Illumina was able to exercise a decisive influence over Grail, the EU enforcer said, calling the move unprecedented and a very serious infringement. Illumina and Grail knowingly and deliberately did so by implementing their tie-up as we were still investigating," EU antitrust chief Margrethe Vestager said in a statement. The company has challenged the EU veto of the deal, its decision to examine the deal despite not meeting the EU merger criteria and the EU order to keep Grail separate so that it can unwind the deal. It said success in the second case would nullify the EU fine and expects the EU court to rule in late 2023 or early 2024.

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Persons: Illumina, Margrethe Vestager, Grail, Ilumina, Foo Yun Chee, Elaine Hardcastle Organizations: EU, European Commission, Regulators, U.S . Federal Trade Commission, Thomson Locations: BRUSSELS, U.S, EU