Nearly one year after DNA sequencing machine maker Illumina announced plans to acquire smaller rival Pacific Biosciences, antitrust regulators in the UK say the merger could stifle competition in the region and reduce industry innovation.

The Competition and Markets Authority has been eying the proposed $1.2 billion tie-up since April. The regulator’s in-depth review, which concluded this week, was launched in June—around the time Illumina (NASDAQ: ILMN) and PacBio (NASDAQ: PACB) initially anticipated the deal to close.

On Thursday, the CMA released provisional findings from that review, which concluded that “few alternative providers of DNA sequencing systems” would… Read more »