Laboratory Corp. (LH) to Acquire MEDTOX Scientific (MTOX) in $241M Deal

Article Stock Quotes (2) Comments (0)

Laboratory Corporation of America Holdings (NYSE: LH) and MEDTOX Scientific, Inc. (Nasdaq: MTOX), a provider of high quality specialized laboratory testing services and on-site/point-of-collection testing (POCT) devices, today announced that they had entered into a definitive merger agreement under which LabCorp would acquire MEDTOX for a purchase price of $27.00 per share in cash, representing a total enterprise value of approximately $241,000,000. The board of directors of MEDTOX unanimously approved the agreement and recommended approval of the transaction by MEDTOX’s shareholders.

The transaction is subject to customary closing conditions including the expiration or early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and approval by MEDTOX’s stockholders. The transaction is expected to close in the third quarter of 2012.

---

Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW

---

*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here

---

---

You May Also Be Interested In

• UPDATE: Correct: Buying Warner Chilcott plc (WCRX) Seen as Takeover Defense by Actavis (ACT)
• Despite Outside Interest, Tumblr and Yahoo! (YHOO) Are in Lockup (MSFT) (FB)
• Brady (BRC) Plans Sale Plans to Unload Asia-based Die-Cut Unit

Create E-mail Alert Related Categories

Mergers and Acquisitions

Add Your Comment

Name

Subject

Body

Share on Facebook

Verification
can't see the text?
click here to refresh the image.
what's this?