BRUSSELS—U.S. life sciences firm Illumina will have to divest biotechnology company Grail after an EU veto of the $7.1 billion acquisition over concerns it would hurt competition and stifle innovation. The European Commission, which acts as the competition enforcer in the 27-country bloc, said on Tuesday that Illumina’s remedies did not adequately address its concerns….

Mergers and acquisitions in Germany in the first three months of 2022 have dropped 10 percent from the same period in 2021 in what has been the slowest start to a year since 2016 due to market uncertainty caused by Russia’s invasion of Ukraine. Equity capital markets in the euro zone’s biggest economy have been…

Meta Platforms Inc. said on Tuesday it had closed its acquisition of Kustomer, a U.S. customer service startup, after winning conditional EU antitrust approval for the deal last month. The purchase was first announced in November 2020 but got delayed due to regulatory scrutiny including a full-scale investigation from the European Commission. The probe came…

NEW YORK—Citigroup Inc will exit its Citibanamex consumer banking business in Mexico, the bank said on Tuesday ending its 20-year retail presence in the country that was the last of its overseas consumer businesses. Citigroup’s decision to sell or spin off Citibanamex, Mexico’s third biggest bank by assets as of June, is part of chief…

Dealmaking in the U.S. oil and gas industry in the third quarter of 2021 fell from a two-year high in the previous quarter, according to data analytics firm Enverus on Tuesday, as the industry cools from post-pandemic consolidations and focuses on selling off non-core assets. Mergers and acquisitions (M&A) activity in the July-September quarter totaled…