Illumina in August 2021 said it completed its planned $7.1 billion acquisition of Grail despite a pending legal challenge by the FTC and separate antitrust concerns in Europe at the time. The antitrust concerns led Carl Icahn in March to launch a proxy battle at Illumina as its takeover of Grail remains in limbo, nominating three people to the board. In a letter to shareholders, he argued that the current board had failed them by allowing management to close the acquisition of Grail despite antitrust concerns. Mr. Icahn also called for the return of former Chief Executive Jay Flatley.