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Illumina and Pacific Biosciences nix merger

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Facing persistent and potentially insurmountable headwinds from regulators, Illumina (NASDAQ:ILMN) and Pacific Biosciences of California (NASDAQ:PACB) have mutually agreed to terminate their merger agreement announced on November 1, 2018.

Under the terms of the contract, Illumina will pay Pacific Bio a $98M termination fee.

Source: M A News on Seeking Alpha