Carl Icahn shares common ground with the FTC, which argued that Illumina’s acquisition of cancer test developer Grail would stifle competition and innovation. 

The decision reverses an administrative judge’s ruling that dismissed the FTC’s initial challenge of Illumina’s $7.1 billion Grail deal.

Carl Icahn claims Illumina directors demanded extra personal liability insurance before the biotech company signed off on a $7.1 billion acquisition of Grail