Why Pacific Biosciences of California Stock Is Sinking Today
Shares of Pacific Biosciences of California (NASDAQ: PACB) are falling today, down 11.5% as of 11:46 a.m. EDT, after the Competition and Markets Authority (CMA) in the United Kingdom announced a provisional decision that the proposed merger between Illumina (NASDAQ: ILMN) and PacBio would "result in a significant loss of competition" in the next-generation gene sequencing market.
The U.K. CMA's provisional decision wasn't a shock. Earlier this year, the agency launched an investigation of the Illumina-PacBio merger.
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Source Fool.com
