Is Illumina Making an $8 Billion Blunder?

You can now scratch one of the most highly anticipated healthcare IPOs off the list. It's not happening.

Illumina (NASDAQ: ILMN) announced on Monday morning that it plans to acquire GRAIL for $8 billion. The news came less than two weeks after GRAIL filed for an IPO. The deal confirmed reports that surfaced last week about Illumina's interest in buying the cancer diagnostics start-up.

But many investors aren't fans of this acquisition. Is Illumina making an $8 billion blunder?

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Source Fool.com