Laboratory Corporation/Orchid Cellmark
On April 6, 2011, Laboratory Corporation of America Holdings (NYSE: LH) and Orchid Cellmark Inc. (Nasdaq: ORCH) announced that they have entered into an agreement whereby Lab Corp will acquire Orchid Cellmark for $2.80 per share in cash, or total consideration of $85.4 million.
Under the terms of the agreement and plan of merger, LabCorp has formed an acquisition subsidiary, OCM Acquisition Corp., that will commence a tender offer to purchase all outstanding shares of Orchid Cellmark for $2.80 per share.
Closing is expected in Q211.
Under the terms of the agreement and plan of merger, LabCorp has formed an acquisition subsidiary, OCM Acquisition Corp., that will commence a tender offer to purchase all outstanding shares of Orchid Cellmark for $2.80 per share.
Closing is expected in Q211.
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Morning Movers 04/06: (ORCH) (SIMO) (BLTI) (HILL) Higher; (AMSC) (DYNT) Lower
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Notable Mergers and Acquisitions of the Day 04/06: (LH)/(ORCH) (G) (MSCC)/(AMLJ) (CLH)
